Banks and borrowers hurt by weak Tongan economy
Monday, May 6, 2013 - 15:02
The National Reserve Bank of Tonga is running out of ideas on how to encourage commercial banks to lend more money at a time when the Tongan economy is very weak, the Reserve Bank Governor Siosi Mafi said on Friday May 3 when she presented the Monetary Policy Statement for the end of February.
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Comments
Admission of Failure
Admission of Failure
The Reserve Bank is responsible for monetary and economic development and by their own statistics have failed miserably. Now pointing the finger at the banks, if the reserve bank monitored them more closely over the last 6 years they would not have had such bad write-offs.
Maybe you should all resign and let competent staff run the organization.
In regard to cruise ship visits they planned on 100 per year and so far only 5. Well, I suggest they learn how to do a business plan as it's obvious they have no idea.