10 Jul 2006

Solomons tops aid payout among Forum island member countries

6:45 am on 10 July 2006

The Governor of the Central Bank of Solomon Islands, Rick Hou has revealed that Solomon Islands is receiving more aid per capita than any other Forum island member countries.

Mr Hou made the announcement during a seminar on the Pacific 2020 report, which looked at the challenges and opportunities for growth in the Pacific region.

He said there was nothing wrong with aid, but cautioned that there was no substitute for private sector activities -- the driving engine of any economy.

Mr Hou says world-wide experience has shown that nations have emerged from their ailing economic situation not with aid, but through pure hard work and by taking tough actions.