The reports have surfaced in relation to the proceed of a development bond issued to the country's national pension program called the Solomon Islands National Provident Fund.
According to online news site Solomon Fresh-beat the government on Monday signed an agreement with SINPF issuing Domestic Development Bonds worth more than 19 million US dollars.
But the permanent secretary of the Ministry of Finance Harry Kuma said this was not to finance a budget deficit but rather to raise funds for an undersea cable project the Government was pursuing with Huawei.
