CENTRAL Bank Governor Dr. Luke Forau says there needs to be a refocus in the country’s development strategy and this is now the right to time to do it.
He made the state statement in his speech to launch the CBSI 2019 Annual Report, Tuesday.
“Perhaps, this is the opportune time ‘to do things differently’ and focus should now be on developing the rural village,” Forau said.
He said we’ve seen during the social unrest the ‘village’ was used as insurance.
He further added that resilience was seen in the village and it was the rural economy that kept the country going during that unrest.
“Again, in this pandemic, the village was used as an insurance, people were sent home for safety and I am very certain that the next economic crisis in the future, people will travel back to the village,” Forau stressed.
He further emphasised that if that is the case, then he seriously thinks there is a need for us to start the discussion on alternative paths to development.
After 40 years of self-charting our economic destiny as a country we are still no way near to an economy that can economically sustain its people.
“The Solomon Islands needs an alternative development path with alternative transmission channel(s) these ideas are not new, but requires champions to initiate the process,” he said.
By ANDREW FANASIA