I agree with you that the PACER Plus trade agreement is of questionable benefit for Tonga. But I do not share your concern for Tonga’s trade deficit. Over the last year, Tonga’s foreign reserves have increased about 19% to the equivalent of nearly 10 months’ imports. If the balance of trade were a problem for Tonga, its foreign reserves would be declining. - Leigh Harkness
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Results for Foreign Reserve
Friday 11 December 2020
Monday 6 May 2013
The National Reserve Bank of Tonga is running out of ideas on how to encourage commercial banks to lend more money at a time when the Tongan economy is very weak, the Reserve Bank Governor Siosi Mafi said on Friday May 3 when she presented the Monetary Policy Statement for the end of February.
Thursday 31 May 2012
A continue decline of Tonga's foreign currency earnings has stifled the growth of the Tongan economy, the Governor of the National Reserve Bank of Tonga, Mrs Siosi Mafi said this morning, May 31.
Thursday 17 May 2012
Tonga's Foreign Reserve increased by $1.1million to $240.3 million in April, which is equivalent to nine months of imports of goods.
Monday 28 January 2008
Tonga's Foreign Reserve in December 2007 increased by $19.8 million, from $94.8 million in November to $114.6 million, an amount equivalent to 5.1 months of imports of goods.
Thursday 1 June 2000
While Tongans are being told that their economy is growing at a record pace, at the same time they are faced with the hard reality of the declining value of their currency and the erosion of the foreign reserve. From Matangi Tonga Magazine Vol. 15, no. 2, June 2000.