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.
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Results for Tonga loans
Monday 22 October 2018
Sunday 1 May 2016
While Tonga languishes in debt as a nation owing several hundred million dollars with a dead economy and extremely high unemployment especially with our youth, we volunteer to spend $100,000,000 TOP to host the South Pacific Games....Our leaders have turned us into a beggar nation, so deeply in debt that our grandchildren and great grandchildren’s future has been sold. Faka'ofa – Sione Masa.
Saturday 25 July 2015
Tonga's Minister of Finance Hon. Dr ‘Aisake Eke says construction of facilities for the 2019 Pacific Games in Tonga will start next year, 2016.
Friday 27 February 2015
Tonga’s very low economic growth rate means that employment, particularly for young people, cannot be realised, and new investment is needed in order to create new opportunities, the World Bank Vice President for East Asia and Pacific, Axel van Trotsenburg said in Nuku‘alofa yesterday, February 26.