Results for Business

The Tongan Squash Exporters' Council is seeking a $6 million loan for the purpose of compensating squash growers who were hurt by low returns from their sale of squash to Japan this year.

In any disaster, there are always a few survivors and this is true of Tonga's squash industry this year. While most of the 2000 Tongan squash growers this season will face a huge financial loss because they will be paid only 15 to 20 seniti per kg of squash, a lucky few will receive between 61 and 84 seniti per kg.

Tonga's annual squash exports for Japan could reach 20,000 tonnes, but people in the industry are predicting the price will plummet this year to a disappointing low of between 20 and 15 seniti per kilo.

Remote Islands and Rural Technology was the theme of a two-day Pacific Islands telecommunications workshop that was held at the International Dateline Hotel, Nuku'alofa, from September 29-30.

Although the Free Trade area for the Pacific has started to take shape Tonga is not ready to take advantage of it. From Matangi Tonga Magazine Vol. 18, no. 2, August 2003.

Pacific Finance and Investments Ltd. has invested about $1.3 million in Tonga for the construction of two new buildings this year. From Matangi Tonga Magazine Vol. 18, no. 2, August 2003.

Tonga imports $6 million worth of vegetables annually to meet demand, a surprising amount for a country with an annual trade deficit of about $90 million, which has its main export strength in agricultural produce. From Matangi Tonga Magazine Vol. 18, no. 2, August 2003.

There is increasing interest in the state of the economy: in particular the fall in the level of the Pa‘anga, the high level of inflation, and the economic reform programme. I intend to link these issues and to explain the economic and developmental factors behind them. In an educated, open society like Tonga’s, it is important that as many people as possible understand these important issues so that they can make informed contributions to the debate. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Tonga’s Crown Prince Tupouto‘a offers a radical solution to Tonga’s inflation crisis: he says the low Pa‘anga is retarding the economy, and suggests that Tonga could dollarise its economy, to allow the US Dollar to become legal tender here. Interview by Pesi Fonua. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.