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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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Wednesday 28 July 2004
Nuku'alofa, Tonga
Tonga is scheduled to become a member of the World Trade Organisation in early 2005, Moana Taukolo of the Tonga Ministry of Labour and Commerce, told a three-day National Seminar on WTO issues in Nuku'alofa early this month.
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Saturday 24 July 2004
Nuku'alofa, Tonga
The official Foreign Reserve held by the National Reserve Bank of Tonga increased by $25.8 million pa'anga in June 2004 to $89.7 million, an amount equivalent to 5.2 months of imports of goods.
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Wednesday 21 July 2004
Nuku'alofa, Tonga
The elimination of trade protectionism by the World Trade Organisation, in its quest to establish a global economy will confront Tonga with a tremendous trade disadvantage, warned the Prince Regent, Crown Prince Tupouto'a when he opened a three-day National Seminar on WTO issues on July 19, at the National Reserve Bank building, Nuku'alofa.
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Friday 14 May 2004
Nuku'‘alofa, Tonga
Tonga's official Foreign Reserve in April reached the highest point for this year.
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Wednesday 7 April 2004
Nuku'alofa, Tonga
Tonga's high inflation rate of 12 per cent, is a stumbling block for economic recovery, and a major cause of misery for ordinary Tongans, and urgently needs to be reduced. Martin Cerisola, the leader of an International Monetary Fund delegation, winding-up their annual visit to Tonga on April 2, said that high inflation had the most adverse affect on low income earners. "It affects the poor the most, and I emphasised that inflation should be brought down to a sustainable level.
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Monday 1 December 2003
Nuku'alofa, Tonga
Tongan communities realise they need new skills and more income. - Matangi Tonga, Vol. 18, No. 3
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Tuesday 11 November 2003
Nuku'alofa, Tonga
The state of Poverty and Corruption in Tonga was highlighted by researchers in Nuku'alofa at the end of October.
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