12 Jun 2013

New borrowing rules for Solomon Islands SOEs

9:55 am on 12 June 2013

The Solomon Islands government has outlined a new borrowing policy for state owned enterprises.

The Finance Minister, Rick Hou, says the rules and guidelines for SOEs will ensure their borrowing does not pose an unacceptable risk for the government.

The government says the new policy is aimed at getting the firms to operate as profitable and efficient businesses while managing total debt levels.

Under the new policy the government will provide practical guidance to SOEs and place certain requirements on them including demonstrating creditworthiness, and having current audited financial statements of good standing.