Results for World Bank

Tonga needs to grow its small private sector in order to find a lasting solution for the country's fiscal and development challenges, reports the International Monetary Fund (IMF). Tonga will need to address the structural constraints and main deterrents to investment.

The COVID-19 crisis comes at a crucial moment: the beginning of the last decade that we have to act on climate change. Governments are about to spend trillions of dollars to soften the blow from COVID-19. We must not let that money go to waste. When one is being buffeted by a storm of this magnitude, the worst thing one can do is lose one’s compass. But we must use that compass to chart a new course toward an economic model that places human and environmental sustainability at its center. By Bertrand Badré

Although multilateralism is in crisis, different fates await the multilateral institutions that were created under the Bretton Woods Agreement 75 years ago. While the International Monetary Fund has found renewed relevance in a world of crises, the World Bank has suffered under the poor leadership of a parade of American men.

A project to strengthen sustainable management and recover selected commercial, aquaculture, and community fisheries in Tonga, funded by the World Bank was launched on 2 July in Neiafu, Vava’u.

How Tonga is going to effectively use the millions received in grants from foreign aid donors to address its struggling economic situation, was the focus of the debate over the 2019-20 National Budget in the Tongan parliament on Wednesday and Thursday 19-20 June. It is clear that a continuing dependence on foreign aid donors remains the source of economic developments.

Thousands of communities across the North Pacific will benefit from significant upgrades to maritime infrastructure and improved connectivity following approval today by the World Bank’s Board of Executive Directors of two grants for US$38.5 million and US$33.1 million for the Federated States of Micronesia (FSM) and Marshall Islands, respectively.

Budget support amounting to $35 million input from aid donors will not be released to the Tongan Government if they do not amend the Foreign Investment Act before the end of February, Tonga's parliament was told today. A letter from the Acting PM stirred up vociferous exchanges in the Tongan Parliament today. From the House by Pesi Fonua.

Tonga can better fight its NCD crisis by removing tax on chicken meat and putting new tax on local tobacco, while ensuring stronger price control, monitoring, and enforcement, a new World Bank study recommends.

Three agreements worth NZ$8 million were signed between New Zealand and Tonga to strengthen Tonga’s education and justice systems, and public sector management through policy reform.