The Solomons' government says it will today pay off all of it domestic debt, marking an important milestone in financial reforms to the public sector.
Solomon Islands finance minister Snyder Rini is sworn in by Governor General Sir Frank Kabui as Prime Minister Manasseh Sogavare looks on. Photo: RNZ / Koroi Hawkins
The country's finance minister says the early repayment of more than US$12 million in bonds will save government US$1.2 million in interest payments.
Snyder Rini say the payment of the bonds gives Solomon Islands the lowest debt to GDP ratio in the Pacific.
The domestic bonds were established between 2004 and 2006 to help government repay creditors US$73.5 million dollars of debt accrued by the end of the ethnic crisis in 2003.
