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Results for Economy

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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Wednesday 17 March 2010
Nuku'alofa, Tonga
Tonga's Foreign Reserves fell by $7.3 million to $153.5 million in February, mainly due to a large official capital outflow that was used for the repayment of foreign currency loans.
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Thursday 14 January 2010
Nuku'alofa, Tonga
Tonga's official foreign reserves for December 2009 reached $160.4 million, which was half a million pa'anga more than the November figure of $159.9 million.
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Wednesday 23 December 2009
Nuku'alofa, Tonga
As an economic slowdown continues, the National Reserve Bank of Tonga has offered SDR relief for commercial banks, to encourage them to reduce interest rates for customers.
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Tuesday 24 November 2009
Nuku'alofa, Tonga
The Tongan economy's only hope of surviving the global financial crisis is to be able to adapt and to exploit global economic changes, Tonga's Minister of Finance, Hon. Afu'alo Matoto said in his opening address of the "Tonga Update 2009" at the Fa'onelua Convention Centre, Nuku'alofa on Friday November 20.
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Monday 9 November 2009
Nuku'alofa, Tonga
Tonga's official Foreign Reserves fell by $2.6 million from $163.3 million in September to $160.7 million in October.
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Tuesday 22 September 2009
Nuku'alofa, Tonga
Tonga's electricity tariff will go up by 20.35 seniti per kWh, effective from the meter reading at the end of October, Peter McGill, the CEO of the Tonga Power Ltd. announced this afternoon.
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Friday 18 September 2009
Nuku'alofa, Tonga
Tonga's Foreign Reserves rose by $19.8 million to a record high of $159.2 million in August, the equivalent of 6.2 months of imports of goods for Tonga.
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