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‘GNUT is a minority government’ as Solomon Islands Opposition claims numbers to govern

Pita Ligaiula
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‘GNUT is a minority government’ as Solomon Islands Opposition claims numbers to govern

Solomon Islands Opposition MP Peter Kenilorea says the current government has lost its majority, insisting a coalition of 28 MPs is ready to take over.

Kenilorea said the political situation has been clear for the past two weeks following mass resignations from the Government for National Unity and Transformation (GNUT).

“Over the last two weeks since 19 MPs left GNUT, joining the 9 of us in the Opposition and Independent Groups, (who we have all signed a coalition totaling 28 MPs of our 50 seat parliament) there has been much discussion and speculation on social media.”

He said public debate has missed the key issue.

“It’s fascinating that people are still talking about the reasons for the mass resignations, or that we only have two years left before the next election, or that GNUT is delivering so they should just continue, missing the point and the real issue that GNUT is at 22. It has been at 22 for the 14days already. GNUT is a minority government.”

Kenilorea said the numbers make it impossible for GNUT to function effectively.

“The PM has not been able to fill the 23 Ministerial portfolios over the last 2 weeks. It’s simply a math issue. 22 MPs cannot fill all cabinet ministries.”

“With the PM out of the equation, being PM, there are 21 MPs left to fill 23 spots. Among the 21 are a couple of MPs that for health reasons may not be able to effectively discharge their duties and responsibilities including to advise the GG in accordance to the constitution.”

He added that parliamentary operations are also affected.

“Further, GNUT cannot effectively fill the vacant parliamentary chairmanships and the members of the committees as well.”

Kenilorea said the Opposition bloc sees itself ready to govern.

“As I mentioned in the press briefing on behalf of the 28, we see ourselves as ‘the government in waiting’, given there is a new coalition and the PM has lost support of MPs.”
“We see ourselves as Ministers of the Crown in waiting, looking forward to developing, driving and implementing national policies that positively impact our people and nation moving forward – yes even in the next remaining 2 years.”

He called for Parliament to be convened to test the government’s majority.

“GNUT minority rule cannot continue indefinitely. Majority rule, the foundational bedrock upon which our democracy is built must be re-established. PM simply needs to call Parliament to test his numbers and support.”

Kenilorea highlighted the recent remarks by the Speaker.

“The Speaker himself used the world ‘defunct’ in the Q&A he had with the media a few days ago. This admission signals a crisis in the legislature that is not working.”

“With a minority government and a defunct parliament, we are on uncharted waters. As a nation and as leaders we just need to do the simple and humble thing. Call parliament. Test the numbers. Move on.”

He stressed the need to uphold democratic processes.

“It is in our national interest to have majority rule reinstated. As leaders let us continue to uphold the rule of law.”

Kenilorea also dismissed claims of shifting political numbers.

“There is no so-called fluidity in the numbers over the last 2 weeks, despite enticements from GNUT to the 28. GNUT, please check the political parties commission to confirm this.”

“For us the 28, texts from GNUT operators are shared, so-called private phone calls from operators are over heard on phone speakers. And as I mentioned, our resolve is strong. We are the government in waiting.”

He confirmed legal proceedings are underway but declined to comment further.

“A legal case has been filed. So I’ll avoid discussing the specifics of the case and the points we are arguing. We remain 28 strong,” he said.

UN appoints Jean Arnault as envoy, warns Middle East conflict ‘out of control’

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UN appoints Jean Arnault as envoy, warns Middle East conflict ‘out of control’

The UN Secretary-General, António Guterres, has named veteran French diplomat Jean Arnault as his personal envoy to lead UN efforts on the Middle East conflict and its consequences.

He warned that the conflict was “out of control”, reiterating his call on the United States and Israel to stop the war, and for Iran to stop attacking its neighbours.

“It is time to stop climbing the escalation ladder – and start climbing the diplomatic ladder, and return to full respect of international law,” Guterres said.

Arnault “will be doing everything possible” to support all efforts for mediation and peace, and will be in contact with all parties.

He will examine how the conflict is impacting the region and civilians, both there and around the world, as well as consequences for the global economy.

The envoy has nearly 40 years of experience in international diplomacy, especially in the field of peaceful settlements and mediation, and has led UN missions in Africa, Asia, Europe and Latin America. Most recently he served as the Secretary-General’s Personal Envoy on Afghanistan and regional issues.

Pacific secures Climate finance boost as Green Climate Fund office confirmed for Suva

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Pacific secures Climate finance boost as Green Climate Fund office confirmed for Suva

Fiji and the wider Pacific have secured a major breakthrough after the Green Climate Fund (GCF) endorsed the establishment of its Pacific Office in Suva.

The decision, confirmed at the GCF Board’s 44th meeting, will see climate funding and support brought closer to Pacific Island countries, allowing faster access to finance and stronger regional coordination.

The move follows months of advocacy led by Fiji, after Pacific leaders backed the country to submit a proposal on behalf of the region at the Forum Economic Ministers Meeting in July 2025.

Initial plans for a smaller outpost office were expanded into a full Sub-Regional Office after sustained lobbying by Pacific representatives and other Small Island Developing States on the GCF Board.

Prime Minister Sitiveni Rabuka welcomed the outcome, stating: “This is a proud moment for Fiji and the Pacific. It reflects our leadership and persistence in ensuring that global climate finance mechanisms respond to the realities of Small Island Developing States. I acknowledge the leadership of the Ministry of Environment and Climate Change that worked tirelessly to prepare and deliver this proposal under tight timelines. Their commitment to this outcome has delivered a result that will benefit the entire region.”

GCF Executive Director Mafalda Duarte also acknowledged Fiji’s role, stating: “Fiji’s leadership and steadfast advocacy for ambitious climate action, particularly on behalf of Small Island Developing States, has long been recognised globally. GCF is genuinely excited to deepen our partnership with Fiji through a strengthened in-region presence that will support more responsive engagement, closer coordination with stakeholders, and accelerated access to climate finance for Pacific countries.”

The new office is expected to support faster funding approvals for climate projects, including seawalls, village relocations, renewable energy, and ocean protection initiatives.

It will also strengthen technical support for Pacific countries to develop bankable projects and improve access to climate finance, while ensuring decisions are made closer to the realities of island nations.

The establishment of the Suva office is also expected to create new jobs, partnerships, and opportunities, while boosting Fiji’s leadership role in regional climate action.

The Fijian Government will now work with the GCF to finalise arrangements and operationalise the office.

Officials say the development removes long-standing barriers that have slowed access to climate finance for Pacific countries and marks a shift towards faster, more direct support for vulnerable communities.

“This is not just a win for Fiji. It is a win for the entire Pacific. Less delay. More action. Real support where it matters most,” a Fiji Government statement said.

Cook Islands down to just 20 days of fuel stock as local suppliers warn of ‘significant price increases’

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Cook Islands down to just 20 days of fuel stock as local suppliers warn of ‘significant price increases’

Fuel stocks in the Cook Islands have dropped to just 20 days – less than half of full capacity – and while suppliers are confident this is sufficient, they warn of further price hikes.

“Our fuel storage capacity, if we think about the full capacity, is about 45 days. We currently have around 20 days of stock. Compared to other Pacific islands, we are relatively well positioned,” Ministry of Finance and Economic Management (MFEM) director of Economic Planning Division, Joaquin Vespignani, said while speaking at the Cook Islands Tourism global update last Friday.

Local suppliers are confident that current stock is sufficient to last until the next shipment in early April – provided there is “no panic buying” – but they have warned of looming price increases.

A new price order that took effect on Friday has pushed fuel and LPG prices to among the highest ever recorded in the Cook Islands. The new rates – linked to supply disruption concerns stemming from conflict in the Middle East – have resulted in massive increases in petrol, diesel and LPG prices nationwide.

TOA Petroleum owner Brett Porter says fuel stocks are currently adequate for both unleaded petrol and diesel, ahead of the next tanker delivery from Fiji early this week.

This is provided there are normal purchasing conditions “meaning there’s no panic buying behaviour”.

“We don’t anticipate any disruptions to delivery of our fuel requirements over the next few months” Porter assured.

However, he warned of looming price hikes.

“There is without doubt significant price and costs increases though on the horizon for the foreseeable several months,” Porter said.

“The whole fuels business environment has changed. The buying of fuels now has moved from contractual arrangements to spot market fixing. This is a volatile market situation and now requires that stock is prepaid upon order placement and loading of vessels.

“Pricing predictors from our suppliers for the next deliveries in late April are huge. The Government is aware of this. We are endeavouring to assist in planning to soften the inevitability of the economic impacts.”

According to chief economist Vespignani, global oil prices have surged to around US$90 per barrel – well above pre-crisis levels of approximately US$65.

He said while prices appear to be stabilising, they remain high enough to affect every layer of the Cook Islands economy, from electricity generation to transport and tourism operations.

Cook Islands is heavily reliant on imported fuel, which accounts for about 90 per cent of electricity generation and 97 percent of transport.

“We are 100 per cent importers,” he said. “We don’t control production, and we don’t control global prices. We are price takers.”

Vespignani urged conservation efforts, stating they could stretch the fuel supply by 30 per cent – a critical buffer aimed at avoiding supply disruptions and ensuring national economic stability.

Meanwhile, Cook Islands government, through the Office of the Public Service Commissioner, has directed all agencies and ministries to implement immediate energy-saving measures.

The leading private sector, tourism industry, is also actively participating in energy conservation.

Cook Islands Tourism Industry Council president Liana Scott said the industry is already actively practising energy efficiency easures across hotels, resorts and accommodation providers.

“These include the use of energy-efficient appliances, solar water heating, smart air-conditioning systems and operational adjustments to reduce unnecessary consumption,” Scott, who is also the general manager of the Muri Beach Club Hotel, said.

“However, as costs continue to rise, there is recognition across the sector that more can and will be done.”

Scott said that despite the tourism sector’s resilience during the ongoing war in the Middle East, sustained high fuel prices could place pressure on margins and influence visitor costs over time.

“While the sector remains resilient, sustained high fuel prices will place pressure on margins and could influence visitor costs over time, but for now our attractiveness of a safe desirable destination remains.”

She said the current global situation would likely see an increase in operational costs for the tourism industry – “what sort of increase, only time will tell”.

“We are conscious that this time is very volatile and there are moving parts outside of our control, so we just need to adapt and be practical.

“While the sector remains resilient, sustained high fuel prices will place pressure on margins and could influence visitor costs over time, but for now our attractiveness of a safe desirable destination remains.

“Overall, strengthening collaboration between government and industry – particularly in accelerating renewable energy adoption – will be critical to ensuring a sustainable and resilient tourism sector into the future.”

Scott reiterated a key priority moving forward is the role of the government in enabling and encouraging greater investment in renewable energy.

“Transitioning to solar and other renewable solutions is one of the most effective ways to reduce long-term reliance on imported fuels, improve energy security, and manage operating costs,” she said.

“This will require supportive policies, incentives and financing mechanisms to help businesses make these upfront investments. There is no better time than now to make the necessary moves that protect us from future shortages.”

Strengthening Australian partnership with the FSM

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Strengthening Australian partnership with the FSM

The Australian Government last week welcomed the President of the Federated States of Micronesia (FSM), Wesley Simina to Canberra, marking the first official bilateral visit by an FSM head of state in nearly 30 years.

Australia and FSM have a strong and enduring partnership grounded in our shared commitment to a safe and secure Pacific.

During his visit, President Simina met with the Governor-General, Prime Minister and key cabinet ministers. He was accompanied by Speaker of the FSM Congress Esmond B. Moses, Secretary of Justice Leonito Bacalando Jr, Secretary of Resources and Development Elina Akinaga and Acting Secretary for Foreign Affairs Ricky Cantero.

FSM and Australia signed a Memorandum of Understanding (MOU) to enhance our nations’ maritime security cooperation.

This will enable FSM to access support under Australia’s increased investment in maritime security partnerships in the region. FSM will also sign two MOUs to implement the Pacific Policing Initiative – the key policing cooperation mechanism in the Pacific.

Australia, in partnership with FSM, will provide a $2.5 million (US$1.74 million) package, from within the existing bilateral development budget, to support climate resilience. This will include ensuring girls and children with disabilities have access to safe drinking water and basic sanitation in schools, and support to upgrade emergency evacuation shelters.

Australia welcomes FSM’s strong advocacy on climate change and looks forward to working with FSM on climate action and a successful Pacific Pre-COP in Fiji and a leaders’ side visit to Tuvalu.

Austalian Foreign Minister Penny Wong said: “This visit speaks to the strength of the relationship between Australia and the Federated States of Micronesia and the value we place on further strengthening that partnership.

“Both our countries share a strong commitment to Pacific priorities, including regional stability, sustainable development and climate resilience.

“The visit reflects Australia’s commitment to building close and enduring ties with all members of the Pacific family.”

Australian Minister for Pacific Island Affairs Pat Conroy said: “President Simina’s visit demonstrates the deepening ties between the Federated States of Micronesia and Australia.

“The Pacific is on the frontline of the climate crisis, the single largest threat to the lives, livelihoods, culture and security of Pacific communities.

‘This visit builds on our longstanding cooperation on climate action and disaster resilience, and advances our shared commitment to creating economic opportunities for women and children and to strengthening maritime security,” he said.

US$42 million secured for Samoa, Tonga and Vanuatu to transform and strengthen climate-resilient and regenerative agriculture

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US$42 million secured for Samoa, Tonga and Vanuatu to transform and strengthen climate-resilient and regenerative agriculture

Climate change is a key contributor to food, nutrition and livelihood insecurities across the Pacific Island countries and territories.

Agricultural production systems across Samoa, Tonga and Vanuatu are under increasing pressure as impacts of climate change – rising temperatures, erratic rainfall and stronger cyclones – continue to disrupt crop production, soil health and water resources.

In many Pacific communities, around 60 percent of households rely on locally grown food. As climate impacts intensify, agricultural production is declining, forcing countries to rely more heavily on imported foods.

At the same time, farmers are resorting to unsustainable farming practices such as deforestation, monocropping and the use of chemical pesticides and fertilisers to sustain production to meet market demand. These practices degrade soil health, reduce biodiversity and negatively impact overall ecosystem health making farms even more vulnerable to climate shocks

In response to these urgent challenges, Samoa, Tonga and Vanuatu have secured USD$42.06 million in grant financing from the Green Climate Fund (GCF) to transform agricultural production systems and strengthen long-term food, nutrition and livelihood security.

The five-year regional programme, Establishing Climate Resilient and Regenerative Agricultural systems in Tonga, Vanuatu and Samoa, to be delivered by the Pacific Community (SPC) in partnership with national governments, will support countries to move away from practices that undermine soil and ecosystem health and transition towards Climate Resilient and Regenerative Agriculture (CRRA) practices.

Countries have identified priority crops where production system change can have transformational impacts on resilience. These include staple root crops and vegetables that underpin household nutrition, as well as high-value commercial crops such as kava, which are essential for income and export revenue.

Many of these crops are increasingly vulnerable to droughts, cyclones and soil degradation and regenerative agriculture practices will support the sustainable production of these crops by restoring soil fertility, improving water retention, diversifying cropping systems and rebuilding ecosystem services essential for long-term productivity.

Through demonstration farms, farmer-to-farmer learning, tailored technical support and targeted investment in farm-level technologies, the programme will work directly with farming communities to show how CRRA can be adapted to specific farms, crops and landscapes.

The programme will also address the barriers that prevent farmers from adopting climate-resilience practices, including gaps in extension services, limited availability of locally relevant climate information, constraints in market systems, and policies that may unintentionally incentivise unsustainable farming. Strengthening these systems will be essential to scaling up CRRA nationwide and ensuring long-term sustainability beyond the programme’s lifespan.

Director of SPC’s Land Resources Division, Karen Mapusua, said the investment responds directly to growing risks to Pacific food and agricultural production systems.

“These systems across the Pacific are under increasing strain from climate impacts and external shocks. This investment enables countries to strengthen local food and agriculture production while safeguarding the incomes and well-being of the thousands of farming families who depend on agriculture. By transitioning to climate‑resilient and regenerative practices, we can protect our food systems, restore our soils, reduce use of fossil fuel-based inputs and ensure that Pacific farmers can continue to thrive.”

Over 50,000 people are anticipated to benefit directly through improved food and nutrition security and more resilient and secure livelihoods, with wider impacts across rural communities. The programme is also expected to improve the management of more than 20,000 hectares of agricultural land, strengthening soil health and ecosystem resilience.

Director of the GCF Department of the Asia and Pacific region, Hemant Mandal, said the investment reflects the urgency of supporting countries already experiencing climate impacts.

“The Establishing Climate Resilient, Regenerative Agricultural Systems programme will empower farmers in Tonga, Vanuatu, and Samoa to adopt innovative practices that restore soils, enhance agricultural practices, and strengthen markets and livelihoods. It will also strengthen national systems and scale up climate-resilient agriculture across these small island developing states.”

“The investment reflects GCF’s commitment to strengthening regional ownership of climate action and being the Pacific’s climate partner of choice. This new financing also supplements GCF’s already substantial portfolio in the region.”

The programme will generate practical evidence on what works in Pacific contexts, supporting wider uptake of climate-resilient farming approaches across the region.

Director of SPC’s Climate Change and Sustainability Division, Coral Pasisi, said the investment comes at a critical time.

“Food security is emerging as one of the most immediate and complex risks facing Pacific Island countries and territories. For these nations living on the frontline of climate change, investing in resilient food systems is essential to reducing vulnerability and strengthening long-term stability in an increasingly uncertain global context.”

This investment forms part of SPC’s expanding portfolio of climate finance support to Pacific Island countries, with a focus on long-term systems strengthening in sectors such as food security, coastal fisheries and climate resilience. The approval of this multi‑country programme marks a major milestone in SPC’s climate finance work, pushing its GCF and Adaptation Fund portfolio beyond USD$100 million, and supporting countries to access more than USD 126 million in large‑scale adaptation investments to date.

Tuvalu orders work from home as power concerns trigger urgent action

Pita Ligaiula
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Tuvalu orders work from home as power concerns trigger urgent action

The Government of Tuvalu has directed civil servants in Funafuti to work from home as authorities move to manage electricity supply and prevent further disruptions.

In a circular issued by the Office of the Prime Minister dated 29 March 2026, government workers were told to stay home on Monday, 30 March.

“This circular serves to inform all civil servants based in Fongafale, including those working in the Government main building, the Sir Tomasi Puapua Convention Centre, Tuvalu Fisheries Authority, Partnership House, other government offices, and staff of projects, that you are requested to work from home, Monday 30 March.”

The directive is aimed at allowing the Tuvalu Electricity Corporation (TEC) to stabilise power generation.

“This arrangement allows the Tuvalu Electricity Corporation (TEC) to monitor and manage generator operations. TEC will provide further guidance once it completes its assessment and advises on the next steps.”

Officials have also been told to limit electricity use if work must continue.

“For any urgent meetings or essential engagements that must proceed tomorrow, you are kindly requested to minimise electricity usage by using fans instead of air-conditioning where possible.”

The government confirmed that essential services will continue operating.

“Essential services including Health, Treasury, Tuvalu Police Service, Immigration, Airport, MET services, Marine and Ports, Media, Telecommunications, Electricity, Banking services, and other critical services, are to continue operations as required.”

Authorities stressed the importance of compliance to avoid further strain on the system.

“It is important that all staff adhere to this request to support TEC’s efforts and to help prevent further disruptions.”

“Your cooperation and understanding are highly appreciated.”

The move comes as Tuvalu works to manage pressure on its power system while ensuring essential services remain operational.

“28 Rock Solid”: Majority coalition reaffirms resolve as high-stakes political crisis deepens in Solomons

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“28 Rock Solid”: Majority coalition reaffirms resolve as high-stakes political crisis deepens in Solomons

The Solomon Islands Opposition coalition of twenty-eight (28) Members of Parliament, representing a clear majority in the National Parliament, has reaffirmed its unity and resolve to uphold the nation’s democratic principles during this critical time.

The coalition earlier confirmed that legal proceedings have now been formally filed and the matter is before the courts.

A statement from the group says while they respect the judicial process and will allow the courts to determine the legal questions before them, they emphasise that this does not prevent immediate and responsible political action.

“The Prime Minister can still do the right thing and call Parliament to meet.”

“The continued delay in convening Parliament, without clear and justifiable reason, does not serve the national interest. Rather, it serves only the interests of a narrow few at the expense of the broader democratic will of the people.”

“We stand strong to save our democracy,” the coalition declared.

The coalition stressed that the will of the people is expressed through their elected Members of Parliament and must be guided by the enduring principle of majority rule.

“Narrow self-interest must not override the will of the people as expressed through their MPs. The principle of majority rule is fundamental to our democracy and must be respected at all times.”

The coalition remains united and committed to ensuring that Parliament, as the supreme forum of democratic decision-making, is allowed to function and resolve the current situation in accordance with the Constitution.

“We call on all leaders to act in good faith, put the country first, and uphold the democratic values that bind us together as a nation.”

Fiji PM Rabuka cuts overseas trips over Middle East tension and rising costs

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Fiji PM Rabuka cuts overseas trips over Middle East tension and rising costs

Fiji’s Prime Minister Sitiveni Rabuka has ordered an immediate scaling back of overseas travel for all government minis­tries and agencies, citing growing tensions in the Middle East, fuel supply disruptions, and rising in­ternational costs.

The directive places responsibility on ministers and senior officials to carefully assess whether foreign travel is necessary, with a clear push towards the use of remote communication and virtual meet­ings.

Rabuka said officials must now decide for themselves whether travel requests are justified, or whether the same objectives can be achieved through electronic communication.

“The advice will go out, but it is up to those asking for permission to decide for themselves,” he said.

He pointed to recent phone discussions with the Prime Minister of New Zealand, Tonga and Australia as examples of how diplomatic engagement can continue without travel.

Rabuka said Fiji’s situation remained stable, but confirmed that diplomatic missions in the Middle East had reduced movement due to security concerns, with staff working under strict safety conditions.

He added that the current global situation had highlighted the need for Fiji to speed up its shift away from fuel dependence, including possible changes in the national budget to prioritise renewable energy projects.

IMF warns Fiji growth to slow, urges fiscal reforms

Pita Ligaiula
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IMF warns Fiji growth to slow, urges fiscal reforms

The International Monetary Fund (IMF) says Fiji’s economic growth is expected to slow in 2026 as global pressures weigh on the outlook, while calling for urgent fiscal reforms and targeted support for vulnerable groups.

An IMF team led by Alasdair Scottvisited Fiji from 16 -27 March for its 2026 Article IV consultation.

“Economic activity remained resilient in 2025, supported by strong tourism inflows, continued remittances, and fiscal stimulus. This momentum has begun to ease into early 2026. Tourism already appeared to be softer for the first part of this year. Now higher global oil prices are weighing on the outlook.”

The IMF projects growth to moderate to around 2½ percent in 2026, with inflation rising to about 2¼ percent.

“Given these headwinds, the IMF team forecasts growth in 2026 at around 2½ percent, which would be weaker than in recent years. Inflation is expected to increase to around 2 percent percent.”

The report highlights increasing risks linked to global conditions and domestic fiscal pressures.

“Risks to the outlook are to the downside. They arise primarily from fiscal financing pressures, which could raise borrowing costs, constrain spending, and increase pressures on external balances and reserves.”

The IMF stressed the need to rebuild fiscal buffers to prepare for future shocks.

“The budget passed last year leaves the government with very little room to handle unexpected needs for extra spending. While the economy now faces higher fuel prices, in the future it could also face natural disasters or new global shocks. The challenge for fiscal policy is therefore to rebuild fiscal buffers with growth-friendly reductions in deficits, while managing higher costs of living.”

It also recommended targeted assistance rather than broad subsidies.

“To support those most vulnerable to fuel price increases, targeted social assistance is the best option. Untargeted subsidies or price caps would be very expensive for the government and would provide less help to the most vulnerable.”

On monetary policy, the IMF said Fiji’s exchange rate system remains effective but needs improvements.

“The exchange rate peg maintained by the Reserve Bank of Fiji continues to serve the economy well. That said, the effectiveness of monetary policy could be improved by strengthening the links from the policy interest rate to retail rates.”

The IMF noted the banking sector remains stable but requires close monitoring.

“The banking system remains sound overall, with adequate capital and liquidity buffers and improving asset quality.”

It also called for stronger implementation of long-term reforms.

“Structural reforms are needed to support medium-term growth and resilience… Achieving stronger and more durable growth will require clearer prioritization and sequencing of reforms, improved implementation capacity, and sustained efforts to mobilize public and private investment.”

The IMF team held talks with Finance Minister Esrom Immanuel, Reserve Bank Governor Ariff Ali and other stakeholders during the mission.

“The team had fruitful discussions with the Minister for Finance, the Honorable Esrom Immanuel, the Governor of the Reserve Bank of Fiji, Ariff Ali, other senior government officials, development partners, and private sector representatives. The team would like to thank the Fijian authorities for their excellent cooperation and hospitality.”

The IMF will now prepare a full report for consideration by its Executive Board.

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