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Results for Economy

Wednesday 7 April 2004
Nuku'alofa, Tonga
Tonga's high inflation rate of 12 per cent, is a stumbling block for economic recovery, and a major cause of misery for ordinary Tongans, and urgently needs to be reduced. Martin Cerisola, the leader of an International Monetary Fund delegation, winding-up their annual visit to Tonga on April 2, said that high inflation had the most adverse affect on low income earners. "It affects the poor the most, and I emphasised that inflation should be brought down to a sustainable level.
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Monday 1 December 2003
Nuku'alofa, Tonga
Tongan communities realise they need new skills and more income. - Matangi Tonga, Vol. 18, No. 3
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Tuesday 11 November 2003
Nuku'alofa, Tonga
The state of Poverty and Corruption in Tonga was highlighted by researchers in Nuku'alofa at the end of October.
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Thursday 30 October 2003
Nuku'alofa, Tonga
“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.
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Saturday 30 August 2003

Nuku‘alofa, Tonga
Although the Free Trade area for the Pacific has started to take shape Tonga is not ready to take advantage of it. From Matangi Tonga Magazine Vol. 18, no. 2, August 2003.
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Sunday 30 March 2003

Nuku‘alofa, Tonga
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.
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Sunday 30 March 2003

Nuku‘alofa, Tonga
Tonga’s Crown Prince Tupouto‘a offers a radical solution to Tonga’s inflation crisis: he says the low Pa‘anga is retarding the economy, and suggests that Tonga could dollarise its economy, to allow the US Dollar to become legal tender here. Interview by Pesi Fonua. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.
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Sunday 30 March 2003

Nuku‘alofa, Tonga
The assessment by the International Monetary Fund of the Tongan macro-economy during the 2001-2002 fiscal year, highlighted their grave concern over the stagnating state of the economy, the depletion of the official reserves, the marked depreciation of the Pa‘anga, mounting public indebtedness, and the rapid increase in the inflation rate.. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.
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Sunday 30 March 2003

Nuku‘alofa, Tonga
During 2002 inflation accelerated to about 10 per cent and price pressures increased, as Tonga’s expansionary macroeconomic policies resulted in a marked decline in net foreign assets, a weaker pa‘anga and higher inflation, according to a new IMF report. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.
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Saturday 30 November 2002

Nuku‘alofa, Tonga
Is Tonga ready to become a member of the World Trade Organisation? The Tongan Minister responsible for Trade, Hon. Dr Masaso Paunga, is confident that Tonga has done all the right things by signing the appropriate international conventions, and free trade agreements, and that Tonga is now ready to become a member of the WTO sometime next year. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.
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Saturday 30 November 2002

Nuku‘alofa, Tonga
The latest developments in Tonga’s banking business saw the amendment of the Tonga Development Bank Act on September 5, affirming the right of the TDB to continue providing commercial banking activities in the Niuas, and to expand these services to other remote rural areas. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.
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Friday 30 August 2002

Nuku'alofa, Tonga
Tonga hosted this year’s ADFIP consortium on Development Banking Under Change and sought new avenues of technical and financial assistance. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.
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Friday 30 August 2002

Nuku'alofa, Tonga
Tens of millions of pa‘anga in government expenditure that used to be disregarded in the annual Budget estimates, have this year been incorporated into the figures—beefing it up to $112 million in operational costs. This is a new approach by a new Finance Minister, Siosiua ‘Utoikamanu, to make government operations more “transparent”. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.
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Friday 30 August 2002

Nuku‘alofa, Tonga
The Informal sector of the Tongan business community is the biggest enemy of the struggling Tongan economy, believes the Vava’u no. 1 People’s Representative, Trevor Guttenbeil. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.
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Friday 30 August 2002

Nuku‘alofa, Tonga
The Tongan Budget for 2002-3, passed by the Legislative Assembly on June 27, is the biggest ever, with the total revenue to be collected by government amounting to $120.25 million. Government Expenditure during the same period is expected to amount to $122.72 million, leaving us with a deficit of $2.5 million. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.
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Tuesday 25 September 2001

Nuku‘alofa, Tonga
The Tonga Trust Fund was created with the Tonga Trust Fund Act on 3 November 1988. At that time there was US$33 million in the account of the TTF with the Bank of America at 2.7% to 3% interest. From Matangi Tonga Magazine, Vol. 16, no. 2, September 2001.
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Tuesday 25 September 2001

Nuku‘alofa, Tonga
On September 25 in the Tongan Legislature, the Deputy Prime Minister Hon. Tevita Tupou, elaborated a new scheme for recovering the Tonga Trust Fund. From Matangi Tonga Magazine, Vol. 16, no. 2, September 2001.
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Tuesday 25 September 2001

Nuku‘alofa, Tonga
When the Tonga Trust fund was established by in 1988 its purpose was as a kind of safety net for Tonga to accumulate moneys to be held in trust as a foreign reserve fund for the Kingdom to use in exceptional circumstances, and for future major development projects. From Matangi Tonga Magazine, Vol. 16, no. 2, September 2001.
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Tuesday 25 September 2001

Nuku‘alofa, Tonga
One of the Tongan government’s most adventurous money-making projects, the Tonga Trust Fund is in deep trouble. From Matangi Tonga Magazine, Vol. 16, no. 2, September 2001.
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Tuesday 25 September 2001

Nuku‘alofa, Tonga
Matangi Tonga interviewed Tonga Trust Fund trustee Hon. Tevita Tupou, (Minister of Law and Attorney General) and Jesse Dean Bogdonoff, the fund’s technical advisor, on September 26. From Matangi Tonga Magazine, Vol. 16, no. 2, September 2001.
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