Results for Economy and Trade

Tonga's Foreign Reserves for November 2004 went up by $4.4 million to $91.5 million, an amount equivalent to 5.6 months of imports of goods.

The official Foreign Reserves held by the National Reserve Bank of Tonga in September 2004 was $79 million, an amount equivalent to 4.8 months of imports of goods.

Britain is planning a new effort to help poor countries reduce their huge debts by offering to pay off 10 percent of the total owed to international agencies and challenging other nations to follow suit, said Gordon Brown, the chancellor of the Exchequer.

The official foreign reserves held by the National Reserve Bank decreased by $0.2 million in July 2004, from $89.7 million to $89.5 million, an amount equivalent to 5.5 months of imports of goods.

The official Foreign Reserve held by the National Reserve Bank of Tonga increased by $25.8 million pa'anga in June 2004 to $89.7 million, an amount equivalent to 5.2 months of imports of goods.

Tonga's official Foreign Reserve in April reached the highest point for this year.

Tongan communities realise they need new skills and more income. - Matangi Tonga, Vol. 18, No. 3

“It seems that the state of our economy is starting to look up, the result of efforts that we have made in the past”.- King Taufa'ahau Tupou IV.

There is increasing interest in the state of the economy: in particular the fall in the level of the Pa‘anga, the high level of inflation, and the economic reform programme. I intend to link these issues and to explain the economic and developmental factors behind them. In an educated, open society like Tonga’s, it is important that as many people as possible understand these important issues so that they can make informed contributions to the debate. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.