You are here

Results for Economy

Wednesday 2 December 2015

Nuku'alofa, Tonga
A waning commitment by the Tongan government to reform has caused delays in grants for budget support and raises concerns regarding long-term fiscal sustainability, the Asian Development Bank warns in the December 2015 issue of the Pacific Economic Monitor - Budget Analysis. Tonga’s budget plans for FY2016 will see another large increase in public spending.
1 comment
Node is premium Premium content
Saturday 21 November 2015
Nuku'alofa, Tonga
Tonga’s controversial Foreign Exchange Levy Act 2015 has been suspended, according to Press Statement released by the Ministry of Finance and National Planning yesterday, 20 November.
Node is premium Premium content
Tuesday 10 November 2015

Nuku'alofa, Tonga
The implementation of the government’s controversial 1% Foreign Exchange Levy has been deferred again for a “few weeks”, stated the Minister of Finance, Hon. ‘Aisake Eke in a letter, dated 6 November, circulated to general managers of financial institutions in Nuku’alofa.
1 comment
Node is premium Premium content
Monday 9 November 2015

Nuku'alofa, Tonga
Tonga has accumulated a Foreign Reserve of $311.7 million pa’anga at the end of September, while its domestic inflation rate was 3.2% for September, according to the latest figures on the National Reserve Bank of Tonga website.
1 comment
Node is premium Premium content
Wednesday 4 November 2015

Nuku'alofa, Tonga
The Foreign Exchange Levy Act 2015 that was originally scheduled to be implemented on 21 October, finally came into force yesterday, November 3, allowing government to collect one seniti from the banks on every pa’anga sold or purchased in foreign exchange transactions.
Node is premium Premium content
Wednesday 28 October 2015

Nuku'alofa, Tonga
Tonga’s new Foreign Exchange Levy Act 2015 that came into force on Wednesday last week has disrupted the movement of foreign exchange in and out of the country, as bankers do not know how to apply it.
6 comments
Node is premium Premium content
Friday 23 October 2015

Nuku'alofa, Tonga
Tonga and Forum Island Countries (FIC) will benefit from enhanced regional trade and economic integration under the Pacific Agreement on Closer Economic Relations (PACER) Plus Agreement, with Australia and New Zealand.
Node is premium Premium content
Sunday 27 September 2015

Nuku'alofa, Tonga
Tonga’s future is not on land but in its marine area on the continental shelf, and “we want to help Tonga tap into the Blue Economy,” said Deodat Maharaj, the Commonwealth Deputy Secretary-General, during his one-day stop over in Tonga on 15 September. By Pesi Fonua
Node is premium Premium content
Sunday 9 August 2015
Nuku'alofa, Tonga
The Tonga Government does not have an investigation project to find out if Tonga civil servants are considered unpaid, the Minister of Finance and National Planning, Dr ‘Aisake Eke said. “There is no investigation, but a review of the salary structure,” he said in a statement on August 7.
Node is premium Premium content
Thursday 6 August 2015
Nuku'alofa, Tonga
The Tonga government plans to spend allegedly $2.2 million USD (around $4.6 million pa’anga) on an investigation project to find out if Tongan civil servants are over-paid or under-paid.
3 comments
Node is premium Premium content
Monday 3 August 2015
Nuku'alofa, Tonga
A proposal for government to finance the 2019 Pacific Games with Consumption Tax, instead of a levy on profit from foreign currency exchange transactions was presented by Bernie Poort from the ANZ Bank and Dan Henson from the Bank of the South Pacific to the Minister of Finance, Hon. ‘Aisake Eke during a Tonga Chamber of Commerce special meeting on Friday, 31 July.
2 comments
Node is premium Premium content
Monday 29 June 2015

Nuku'alofa, Tonga
Tonga new currency notes and coins were launched by HM King Tupou VI this morning, 29 June, at the Fa’onelua Convention Centre.
Node is premium Premium content
Wednesday 15 April 2015
Nuku'alofa, Tonga
The World Bank has warned Tonga of large fiscal risks which are lurking in the horizon, “the repayment of its two external loans, the financing of the 2019 South Pacific Games, and the periodic large public servant wage demands.”
1 comment
Node is premium Premium content
Wednesday 25 February 2015
Nuku'alofa, Tonga
A Tonga government review has stated that Tonga has fallen behind in three Millennium Development Goals: poverty eradication, gender equality and non-communicable diseases (NCDs) which are at a “crisis level”.
Node is premium Premium content
Thursday 19 February 2015
Nuku'alofa, Tonga
Tonga’s over all Public Debt at the end of January 2015 stood at $392.6 million pa‘anga or 48.4% of its Gross Domestic Product (GDP), according to financial statistics released by the Ministry of Finance this week.
Node is premium Premium content
Friday 9 January 2015
Nuku'alofa, Tonga
Running a business in Tonga is getting harder, according to a new World Bank report titled “Doing Business 2015”. The annual report assesses the “ease of doing business” in countries across the world. Tonga’s ranking was dragged down by poor ratings for property registration, difficulties in resolving insolvency and poor shareholder rights.
Node is premium Premium content
Monday 22 December 2014
Nuku'alofa, Tonga
With domestic inflation easing since June and headline inflation well below the reference range of 6-8% there are no inflationary pressures on the monetary policy stance in the near term, the National Reserve Bank of Tonga reported on December 17.
Node is premium Premium content
Tuesday 18 November 2014
Nuku'alofa, Tonga
Employees at the National Reserve Bank of Tonga (NRBT) can take mortgages starting on November 14, 2014, following the Gazetting of a new order.
Node is premium Premium content
Thursday 30 October 2014
Washington, USA.
Tonga’s economy is set to receive a boost after the World Bank today approved a second USD$5 million operation to support growth through the government’s national development strategy.
Node is premium Premium content
Monday 29 September 2014
Nuku'alofa, Tonga
The inflation rate for the month of August this year 2014 was almost three times higher than the inflation rate for the month of August last year 2013.
1 comment
Node is premium Premium content

Pages