24 Nov 2006

Solomon Islands government rebukes Australian Treasury Assessment

11:54 am on 24 November 2006

The Solomon Islands Finance minister Gordon Darcy Lilo has described the Australian treasury report describing the country's economic growth as poor and corrupt, as "grossly outdated".

The report, which examines the state of Pacific economies as part of the "Economic Roundup Spring 2006 paper", stated that many Pacific nations are failing economically.

The Finance Minister Gordon Darcy Lilo says the report is three years out of date, and is not representative of the country's current economic growth rate of around five-percent.

He says its ironic that a report from the Australian Treasury, even though its not current, should highlight allegations of corruption in the Solomon Islands, when it can't even come to grips with its own Australian Wheat Board debacle, involving questionable payments of millions of dollars to an outlawed Iraqi regime.

He says the bottom-line is the true picture of Solomon Islands in 2006 is far brighter than the Australian treasury report indicated given positive economic indicators.