18 Oct 2005

Solomons finance minister seeks reduction in government debt burden

2:43 pm on 18 October 2005

The Solomon Islands finance minister, Peter Boyers, says he is confident about the government's meeting with aid donors in Honiara.

Today's gathering of the Honiara Club is chaired by New Zealand and brings together the government's external creditors.

Mr Boyers says the Solomons government is seeking to get some relief from its debt because servicing the commitments use up about 20 percent of the budget.

"I'm very confident. God helps them that help themselves. I'm sure that creditors in one form or another will get on board, support the processes that go into the country, recognise that the government is on a reform agenda to grow its economy, knowing that in the future they are going to be more prosperous and be engaging in more credible lending in the future."

Peter Boyers says he would like to cut the service burden to about 10 to 15 percent of the budget.