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Results for Economy

Monday 23 October 2006
Nuku'alofa, Tonga
Revisions will be needed to Tonga's Income Tax Bill 2006 if it is to win acceptance in the House this year and in order to avoid a hostile reception from the public. This need is clear as public consultations on the Bill are winding up this week. By Mary Lyn Fonua
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Wednesday 4 October 2006
Nuku'alofa, Tonga
Simione Sefanaia has become the Acting Managing Director of the Tonga Development Bank replacing Afu...’alo Matoto who was recently appointed as a new Cabinet Minister.
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Saturday 19 August 2006
Nuku'alofa, Tonga
Tonga's Ministry of Labour, Commerce and Industries will hold a series of WTO consultative workshops, starting next month to inform Tongans about new trade terms and tax reform that is being put into place.
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Wednesday 2 August 2006
Nuku'alofa, Tonga
Tonga's decision to defer its accession to the World Trade Organisation (WTO) until July next year will have no impact on the revenue collection of government during the current financial year, according to the Secretary for Finance, 'Aisake Eke.
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Wednesday 26 July 2006
Nuku'alofa, Tonga
Tonga has deferred its membership of the WTO until July next year, the Tongan Prime Minister, Dr Feleti Sevele told the Tongan media yesterday, July 25.
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Wednesday 12 April 2006
Nuku'alofa, Tonga
Tonga's official Foreign Reserve in March fell to its lowest level in 17 months.
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Friday 7 April 2006
Nuku'alofa, Tonga
Announcing a 5.3% inflation rate for February 2006, Tonga's Ministry of Finance on April 5 concluded that while the cost of living is still increasing, it was good news compared to the double digit inflation figures of February last year.
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Friday 13 January 2006
Nuku'alofa, Tonga
Tonga's reserve bank this week imposed a credit ceiling on banks in a move to control lending and stop a marked decline in its foreign reserve.
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Friday 30 December 2005
Nuku'alofa, Tonga
As of November 2005 Tonga's official Foreign Reserve held by the National Reserve Bank of Tonga was $81.8 million, an amount equivalent to 4.3 months of imports of goods. The November Foreign Reserve was $0.6 million less than that of October.
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Sunday 11 December 2005
Nuku'alofa, Tonga
Such a grim picture of the Tongan economy is forecast over the next 18 months that Tonga's Minister of Finance has come out to warn the public of the dire economic consequences of the massive salary increase given to public servants in the September strike settlement. By Mary Lyn Fonua
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Tuesday 4 October 2005
Nuku'alofa, Tonga
Following the acceptance by government of the demands of Tonga's striking civil servants for a 60, 70, 80% salary rise on September 4, Tonga's Minister of Finance, Hon. Siosiua 'Utoikamanu has been attending development and finance meetings in New York, and recently in Barbados, in the West Indies.
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Thursday 2 June 2005
Nuku'alofa, Tonga
The winners of this year's Quality Service Awards were shining examples for Tonga, "we need you," said Dr Fred Sevele, Minister of Labour, Commerce and Industries, in presenting the awards on the evening of May 31.
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Tuesday 1 February 2005
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank increased by $1.9 million in December 2004 to $93.4 million, an amount equivalent to 5.9 months of imports of goods.
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Friday 7 January 2005
Nuku'alofa, Tonga
Tonga's Foreign Reserves for November 2004 went up by $4.4 million to $91.5 million, an amount equivalent to 5.6 months of imports of goods.
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Thursday 25 November 2004
Nuku'alofa, Tonga
The official Foreign Reserves held by the National Reserve Bank for October increased by $8.1 million from $79 million to $87.1 million, an amount equivalent to 5.4 months of imports of goods.
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Monday 18 October 2004
Nuku'alofa, Tonga
The official Foreign Reserves held by the National Reserve Bank of Tonga in September 2004 was $79 million, an amount equivalent to 4.8 months of imports of goods.
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Tuesday 28 September 2004
Nuku'alofa, Tonga
Tonga's official foreign reserves held by the National Reserve Bank for August, stood at $78.4 million, an amount equivalent to 4.8 months of imports of goods.
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Tuesday 28 September 2004
London, UK
Britain is planning a new effort to help poor countries reduce their huge debts by offering to pay off 10 percent of the total owed to international agencies and challenging other nations to follow suit, said Gordon Brown, the chancellor of the Exchequer.
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Saturday 25 September 2004
Nuku'alofa, Tonga
A new loan allocation for Tonga from the Asian Development Bank will be decided on early next year, said Rolf Eckermann, a member of an ADB Executive Directors delegation who visited Tonga this week.
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Friday 10 September 2004
Nuku'alofa, Tonga
The official foreign reserves held by the National Reserve Bank decreased by $0.2 million in July 2004, from $89.7 million to $89.5 million, an amount equivalent to 5.5 months of imports of goods.
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