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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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Thursday 24 March 2011
Nuku'alofa, Tonga
Tonga is at high risk of debt distress and cannot afford to take on more borrowing, according to an Asian Development Bank report that was released this month.
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Tuesday 15 March 2011
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank of Tonga in February was $158.8 million, the equivalent of 6.5 months of imports of goods.
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Thursday 10 March 2011
Nuku'alofa, Tonga
A decision on whether the price of electricity will go up or not will not be known until April 6, said the Chief Executive Officer of Tonga Power Ltd, Peter McGill.
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Tuesday 1 March 2011
Nuku'alofa, Tonga
A large decline in remittances to Tonga is slowing down the economy while the inflation rate is expected to rise continually over the next six months, causing a weak domestic economy, Tonga's Reserve Bank has reported.
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Monday 21 February 2011
Nuku'alofa, Tonga
Alex Thursby, the CEO for ANZ Bank Asia Pacific, Europe and America said on his arrival in Nuku'alofa on Thursday, February 17 that for the Pacific to increase its economic development it should "capitalize on its proximity to Asia and the growing connections it has with the region."
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Wednesday 16 February 2011
Nuku'alofa, Tonga
Tonga's official Foreign Reserves fell by $12.3 million from $177.5 million to $165.2 million in January 2011.
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Tuesday 15 February 2011
Nuku'alofa, Tonga
Tonga's Minister for Labour, Commerce and Industries, Hon Lisiate 'Akolo was appointed by Trade Ministers from Pacific members countries of the Africa, Caribbean and Pacific, ACP as their Spokesperson in their continuing negotiation, for an Economic Partnership Agreement (EPA) with the European Union (EU).
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Friday 14 January 2011
Nuku'alofa, Tonga
Tonga's Foreign Reserve for December 2010 that was held by the National Reserve Bank of Tonga, rose by $9.5 million to $177.5 million compared to $168.0 million in November 2010 and $160.4 million in December 2009.
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Tuesday 9 November 2010
Nuku'alofa, Tonga
While the domestic economy shows signs of recovery, the outlook looks weak, according to the National Reserve Bank of Tonga.
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Thursday 1 July 2010
Nuku'alofa, Tonga
Faced with continuing drops in remittances and two years of negative growth, Tonga's financial planners have turned to aid donors to support the national budget for the new financial year 2010-11, in order to meet a current deficit of $12.1 million pa'anga, as well as multi-million pa'anga development budget needs.
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Monday 10 May 2010
Nuku'alofa, Tonga
A house fire caused by a candle razed a home situated beside the Janfull International Dateline Hotel at around 4:00 am this morning, March 10. Fortunately, the occupants including a mother and her one-year-old baby escaped without injuries.
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Wednesday 21 April 2010
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank of Tonga for March rose by $2 million pa'anga to $155.5 million due to an official grant from the Asian Development Bank.
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Thursday 8 April 2010
Nuku'alofa, Tonga
The Tongan government has reduced its expenditure by 11% because of a 28% shortfall in revenue collection during the current financial year, Tonga's Minister of Finance, Hon. Afu'alo Matoto told representatives of Tonga's Development Partners at the Fa'onelua Convention Centre this morning, March 8.
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