The Central Bank of Solomon Islands (CBSI) hosted its third joint international research conference on Oct. 27, focusing on policy responses to global economic shocks in small, open economies. In welcome remarks, CBSI Acting Governor David K.C. Quan called for research to translate into practical policy decisions addressing external shocks and climate events. Many shocks originate outside Solomon Islands and beyond its control, making research useful for understanding their effects, but findings too often remain in reports and journals without influencing decisions. Discussions examined how exchange rate movements affect trade and inflation, alongside financial sector efficiency and international capital flows across the Asia-Pacific region. In his keynote address, Finance and Treasury Minister Rexon Ramofafia emphasized the need to build financial buffers before crises occur and invest in local research capacity. Both speakers highlighted collaboration between researchers and policymakers, including regional partnerships, as a means of developing responses grounded in the conditions facing Pacific economies.
Central Bank of Solomon Islands urges closer links between research and policy responses to global shocks
At the Central Bank of Solomon Islands’ research conference on Oct. 27, Acting Governor David K.C. Quan urged researchers to turn findings on global shocks into practical policy responses for small, open economies. Finance and Treasury Minister Rexon Ramofafia emphasized building financial buffers before crises and investing in local research capacity.