Page 26 - IB December 2021

Solomon Islands

FINANCIAL CONCERNS LINGER FOR

PACIFIC GAMES 2023

By Dionisia Tabureguci

The 2023 Pacific Games is on track for its November 2023
opening despite the costly aftermath of the riots in Solomon
Islands. However concerns have been raised about the added
pressure it now puts on the host nation’s public purse.
Peter Stewart, CEO of the 2023 Pacific Games in the Solo-
mon Islands told Islands Business Magazine the game facilities
were spared from the recent riots and organisers are optimis-
tic of their timely completion.
“While the damage… to certain localised areas of shops
and businesses in Honiara was severe, most of the city was
unaffected and none of the Games venues were damaged,”
Stewart said.
“Progress on construction of the new stadia continues on
schedule and we have no doubt they will be completed in
plenty of time to stage the Games. With almost two years still PM Sogavare inspects Pacific Games 2023 venue construction. Photo:Sol2023 XVII
to the Opening Ceremony on 19th November 2023, we are Pacific Games
confident that our planning and implementation is progressing
well, and we look forward to the athletes, team officials and
their friends and family visiting us here in Solomon Islands for ment of 36 percent of the SBD$1.5billion (US$186m) expendi-
the Pacific Games in 2023.” ture outlay towards the 2023 Pacific Games will be very dif-
Originally scheduled for July 2023, the Pacific Games 2023 ficult, given the bleak government revenue outlook following
was postponed to November due to delays in construction as the aftermath of the riot. Already, hosting the 2023 Pacific
a result of the coronavirus pandemic and the situation now in Games comes on the back of pressing needs to address critical
Honiara following the riots is being closely monitored, accord- social services and large infrastructure gaps across the coun-
ing to the Pacific Games Council, the organising body of the try. This means more budget support or debt financing will be
Pacific Games. needed which could lead to a rapid increase in government
“We remain convinced that Solomon Islands can host the debt in the near to medium term,” Forau added.
2023 Pacific Games with the on-going support of the Govern- The overall construction project for the Games is the big-
ment and sporting stakeholders. The Games must be held in gest sporting investment ever made in Solomon Islands, with
2023 because they cannot be held in an Olympic year (2024), China financing the bulk of it.
so there will be no further postponement,” said CEO Andrew Barring any more extreme political disturbances before
Minogue. November 2023, ordinary Solomon Islanders are assured of ac-
Prior to last week’s unrests, the Central Bank of Solomon cess to state-of-the-art sporting facilities after the Games.
Islands (CBSI) had cautioned the Government of the need to “To all our sports people in the country, to all our youths,
strictly manage its budget for the 2023 Pacific Games to avoid and to all the sports federations represented here this morn-
undue financial pressures. ing, these facilities belong to you - to use and enjoy, to build
“Although the nation takes pride in hosting the 2023 Pacific and harness your skills, to develop your talents in-order to be
Games, it is a commitment that could put huge pressure on the best sports people you can be,” Prime Minister Manasseh
government finances if not managed well,” CBSI noted in its Sogavare said at the groundbreaking ceremony in May.
Macroeconomic Update in July. The venues, he added, will be used for grassroots and high-
At the time, huge declines in revenue, rising debt, low performance sport, as well as community events.
cash reserves and a generally weak domestic economy due to The new sporting facilities will include a new 10,000-capac-
COVID-19 were of major concerns. ity National Stadium with 1000 VIP seats, an aquatics centre
The riot and subsequent damage, now estimated by CBSI to with a 50-metre competition pool and a 25m training pool,
cost SI$534 million (US$66m), has only worsened things. six-court tennis centre, a track for athletics with a full-size
“The riot has further exacerbated the weakening state of football and rugby field, a multi-purpose hall, a five-a-side
the economy against the backdrop of a widening fiscal deficit hockey field, a double-story food court and office space for
and depleted government reserves,” CBSI Governor Luke the Games Organising Committee.
Forau told Islands Business.
“The government’s capacity to meet its financial commit- editor@islandsbusiness.com

26 Islands Business, December 2021