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Wednesday 27 March 2013
Nuku'alofa, Tonga
The Tongan economy is stuck in a "development trap", according an International Monetary Fund (IMF) report on the current state of the Tongan economy that was released on Monday, March 25.
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Monday 4 March 2013
Nuku'alofa, Tonga
Emigration is invaluable to Tonga if its economy is to improve, according to a new Labour Market study on the demand for skills training in Tonga.
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Wednesday 6 February 2013
Nuku'alofa, Tonga
Foreign Reserves held by the National Reserve Bank of Tonga rose by $3.6 million, from $253.7 million in November to $257.3 million in December, or 9.3 months of imports.
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Monday 4 February 2013
Nuku'alofa, Tonga
Tonga's income is continuing to fall, the Governor of the National Reserve Bank of Tonga, Joyce Mafi, told the Tonga Chamber of Commerce and Industries on January 30, in a presentation on the state of Tonga's Economy.
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Wednesday 9 January 2013
Nuku'alofa, Tonga
Acquiring a business license in Tonga will now be easier under a new Business License Registration Regulation. It comes as part of parliament’s amendments to the Business Registration Act last year.
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Friday 4 January 2013
Nuku'alofa, Tonga
The government’s repayment of loans poses a fiscal challenge in 2013, this according to the Asian Development Bank’s Pacific Economic Monitor.
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Saturday 3 November 2012
Nuku'alofa, Tonga
The Tonga Development Bank has announced a 50% reduction in loan repayments rates to help its clients to meet obligations during the current financial and economic challenges in Tonga.
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Thursday 31 May 2012
Nuku'alofa, Tonga
A continue decline of Tonga's foreign currency earnings has stifled the growth of the Tongan economy, the Governor of the National Reserve Bank of Tonga, Mrs Siosi Mafi said this morning, May 31.
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Wednesday 23 May 2012
Bangkok, Thailand
Pacific countries cannot be left isolated from regional economic integration initiatives in the Asia-Pacific region.
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Thursday 17 May 2012
Nuku'alofa, Tonga
The Tonga Development Bank has reduced its interest rates by 1% on customer loans, and has offered a 50% repayment reduction on all monthly loan repayments for three months, effective 1 May 2012.
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Thursday 17 May 2012
Nuku'alofa, Tonga
Tonga's Foreign Reserve increased by $1.1million to $240.3 million in April, which is equivalent to nine months of imports of goods.
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Thursday 16 February 2012
Nuku'alofa, Tonga
An Economic Dialogue aimed at growing the Tongan economy in a collective effort, will be held on March 7-8 hosted by the National Reserve Bank of Tonga, and will bring together key people in agriculture, fisheries and tourism sectors, and government, to develop actions and address the challenges of Tonga's current economic downturn.
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Monday 9 January 2012
Nuku'alofa, Tonga
The National Reserve Bank of Tonga on 29 December 2011 reported that the country's official Foreign Reserves for November 2011 fell by $1 million from $213.9 million in October to $212.9 million.
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Wednesday 2 November 2011
Nuku'alofa, Tonga
The growth prospect for the Tongan economy is expected to remain slow in the next six months on the back of uncertainty in the global economy, according to a statement from the National Reserve Bank of Tonga on November 1.
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Wednesday 17 August 2011
Nuku'alofa, Tonga
After the Tongan Parliament passed the government's Budget for 2011/12 on Wednesday, 29 June a final copy of the official Budget has not been published and therefore neither the government ministries nor the public know exactly what is the government's economic policy for the current financial year.
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Tuesday 19 July 2011
Nuku'alofa, Tonga
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Tuesday 5 July 2011
Nuku'alofa, Tonga
The Tonga government will not be able to borrow money for a number of years, after it has completely drawn-down its $118 million pa'anga loan from China at the end of March 2012, Tonga's Minister of Finance, Hon. Sunia Fili warned the Tongan parliament, when he tabled his 2011-12 budget to the House in June.
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Wednesday 18 May 2011
Neiafu, Vava'u
How Pacific Forum countries can build a way forward in the PACER Plus negotiations with Australia and New Zealand, is a demanding issue that is being discussed at the Forum Trade Ministers Meeting that opened in Neiafu, Vava'u today, May 18.
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Thursday 5 May 2011
Nuku'alofa, Tonga
The price of electricity will go up by 13.13 seniti per kWh, from 84.86 seniti per kWh to 98 seniti per kWh through out Tonga, starting with the meter reading for May at the beginning of June.
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Saturday 16 April 2011
Nuku'alofa, Tonga
Tonga's prices for Diesel, Kerosene, Petrol and LPG Gas will rise from mid-night on Sunday April 17, the government's Competent Authority Committee announced late on Friday, April 15.
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