Economy

Asian Development Bank elects new President

The Asian Development Bank (ADB) has elected its new president. Japan’s Former Vice Minister of Finance for International Affairs, Takehiko Nakao will succeed Haruhiko Kuroda, also a former Japanese Parliamentarian who handed in his resignation in March.

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Economy

Takehiko Nakao

Asian Development Bank

King reminds MPs that their decisions impact the livelihoods of the people

The Tonga Government is facing up to the challenges presented by the current global financial crisis by developing a strategic plan to revive the economy, HM King Tupou VI said in opening Tonga’s 2012-13 parliamentary session yesterday, June 7. He reminded the MPS that the livelihood of the people was in their hands.

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King Tupou VI

Economy

Pacific economy grows by 6.0% in 2012

Economic growth in the Pacific region is expected to slow to 6.0% in 2012, decelerating further to 4.1% in 2013, while inflation is expected to hold at moderate levels in much of the Pacific, according to the Asian Development Outlook 2012, released today by the Asian Development Bank (ADB).

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Economy

Pacific Islands

Civil unrest stunts Tonga growth, ADB says

The Pacific economies grew by 3.1 percent in 2006, picking up from 2.5% growth in 2005, says the 2007 edition of ADB's flagship an

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Economy

Asian Development Bank

Pacific Islands

EU donates F$4m for Pacific Economic Integration Programme

Pacific Regional Economic Integration Programme (PACREIP) received a boost of over F$4m (…2 million) from the European Union (

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Reserve Bank injects $6.2m into banking system

At its meeting today, the Board of Directors of the National Reserve Bank of Tonga agreed to reduce the Statutory Required Reserves Ratio from 12.5% to 10%

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Tonga

National Reserve Bank

reserves

Economy