21 Oct 2005

Solomon Islands says creditor meetings small but successful step

10:28 am on 21 October 2005

The Solomon Islands finance minister Peter Boyers says a series of meetings of the Honiara Club is a small but successful step by the country in its efforts to reduce debt.

The four-day meeting between the government and its external creditors has ended with a Memorandum of Understanding being signed between the government and some of its creditors.

Mr Boyers says the meetings have given back the country its credibility in the international arena.

"There is no option, we only have one option, follow through on this reform, grow our economy, create better options for Solomon Islanders, get the creditors on board as partners, and say, 'Yes', it's gonna be a hard walk, but let's walk it together, let's get rid of our debt, and create a better place for Solomon Islanders."

Mr Boyers says the aim is to get to the first step where debt would be manageable and better for Solomon Islanders.

Mr Boyers also thanked New Zealand for chairing the meeting.