Results for Tonga economy

Tonga and Forum Island Countries (FIC) will benefit from enhanced regional trade and economic integration under the Pacific Agreement on Closer Economic Relations (PACER) Plus Agreement, with Australia and New Zealand.

Running a business in Tonga is getting harder, according to a new World Bank report titled “Doing Business 2015”. The annual report assesses the “ease of doing business” in countries across the world. Tonga's ranking was dragged down by poor ratings for property registration, difficulties in resolving insolvency and poor shareholder rights.

An August completion report by the Asian Development Bank (ADB) has indicated challenges facing privatization and fiscal sustainability in 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.

The saying that one can’t see the wood for the trees, is so appropriate to our situation in Tonga today. It has been pointed out numerous times, and we can see it with our own eyes, that we are blessed with a good country, where the weather is hospitable, and the soil is so fertile that plants can grow even in the sand. From Matangi Tonga Magazine Vol. 15, no. 3, September 2000.