Tonga’s repayment of its $119 million pa'anga loan from the EXIM Bank of China for the reconstruction of the Nuku‘alofa Central Business District has been deferred for another five years.
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Results for EXIM Bank of China
Wednesday 5 December 2018
Friday 23 November 2018
Tonga was “delighted to join the Belt and Road cooperation,” the Prime Minister Hon. ‘Akilisi Pohiva told President Xi Jinping of China when they met in Port Moresby, Papua New Guinea on November 16, during the 2018 Asia-Pacific Economic Cooperation (APEC) annual meeting, according to the PRC Ministry of Foreign Affairs
Monday 22 October 2018
The Tonga Government will start paying $TOP10.8 million a year during the next ten years, (principal only) of its $TOP119m loan from the Exim Bank of China that was used to fund reconstruction projects after the 2006 riots in Nuku'alofa. The start of the principal repayments has already contributed to a $22.8m decline in Tonga’s foreign reserves in September. Now Tonga is confronting the real cost of the riots.
Thursday 19 February 2015
Tonga's over all Public Debt at the end of January 2015 stood at $392.6 million pa‘anga or 48.4% of its Gross Domestic Product (GDP), according to financial statistics released by the Ministry of Finance this week.