BY NED GAGAHE
Governor of the Central Bank of Solomon Islands (CBSI), Dr Luke Forau, says remittances from seasonal workers continue to play a crucial role in supporting households despite a slight decline in 2025.
Speaking at the launch of the CBSI 2025 Annual Report yesterday, Dr Forau revealed that total cash remittances under the labour mobility scheme dropped by 1 per cent to $471 million.
“For those who are curious about remittances from our seasonal workers, the total cash remittance slightly declined in 2025,” he said.
Despite the decrease, Dr Forau said that the contribution of seasonal workers remains significant across the country.
“The impact is still very strong. It is visible on the ground, with workers directly supporting families, households, and communities,” he said.
He said that the official figures only capture cash transfers and do not include money physically brought back into the country by workers.
“The figure excludes those who return home with cash, so the actual contribution is likely higher,” Dr Forau said.
Meanwhile, Dr Forau said the Central Bank maintained an accommodative monetary policy stance throughout the year to support economic growth while keeping inflation under control.
“Our monetary policy has been relatively accommodative to support growth, while ensuring inflation remains contained,” he said.
He added that part of the strategy involved stabilising the local currency to help manage price pressures.
“This included stabilisation of the Solomon Islands dollar to ensure inflation is contained,” Dr Forau said.
He acknowledged that such policy measures may appear unconventional but said they were necessary in the face of uncertainty.
“In times where markets may not respond effectively, targeted and fit-for-purpose policies are needed to cushion the impact,” he added.
Dr Forau said that maintaining the balance between supporting growth and controlling inflation remains a key priority for the Central Bank.
Photo: Ned Gagahe
For feedback, contact: [email protected]
Editor: [email protected]
