Solomon Islands - Ministry of Finance and Treasury

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The Debt Management Unit repays debt owed by the Solomon Islands Government to both external (overseas) creditors such as the Asian Development Bank and domestic creditors.

The Debt Management Unit makes sure that payments are made on time and for the correct amount. It produces monthly reports on the amount of money owed by the Government and the affordability and sustainability of debt. It also publishes reports every three months on the Central Bank website.

Debt management is governed by the Honiara Club Agreement. This agreement was signed in 2005 to make sure that the Government could repay its debts, and that debt repayments would be reduced to affordable levels. At that time, and after the civil unrest of 1998-2003, the Solomon Islands Government was unable to pay back the money it had borrowed.

The Debt Management Unit analyses the size and structure of debt and advises the Government on how to manage debt in a sustainable and affordable way and what sources of debt are appropriate. It also works closely with the Cash Forecasting team to ensure that the Government can pay its bills and when they fall due.

The Debt Management Unit works with the Central Bank in conducting Treasury Bill auctions:

Monthly debt report
Quarterly debt report
Honiara Club Agreement