Results for Economy and Trade

Future projections for Tonga’s current debt crisis are not looking good, with an ever-rising tide of debt repayments visible over the next three years, leading to concerns that the government will be unable to maintain basic services.

Emigration is invaluable to Tonga if its economy is to improve, according to a new Labour Market study on the demand for skills training in Tonga.

Tonga's income is continuing to fall, the Governor of the National Reserve Bank of Tonga, Joyce Mafi, told the Tonga Chamber of Commerce and Industries on January 30, in a presentation on the state of Tonga's Economy.

The government’s repayment of loans poses a fiscal challenge in 2013, this according to the Asian Development Bank’s Pacific Economic Monitor.

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.

The Tonga Development Bank has reduced its interest rates by 1% on customer loans, and has offered a 50% repayment reduction on all monthly loan repayments for three months, effective 1 May 2012.

An Economic Dialogue aimed at growing the Tongan economy in a collective effort, will be held on March 7-8 hosted by the National Reserve Bank of Tonga, and will bring together key people in agriculture, fisheries and tourism sectors, and government, to develop actions and address the challenges of Tonga's current economic downturn.

The growth prospect for the Tongan economy is expected to remain slow in the next six months on the back of uncertainty in the global economy, according to a statement from the National Reserve Bank of Tonga on November 1.

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