Tonga and ADB
In the Spotlight
Tonga launched the region’s first integrated online business registry, providing up-to-date information on Tongan companies and businesses to the public 24 hours-a-day, 7 days-a-week.
The Pacific region is benefitting from stronger links with Asia’s growing economies, and can gain more with targeted policy reforms and investments, according to ADB's Pacific Economic Monitor.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
The Key Indicators for Asia and the Pacific 2014 presents the latest available economic, financial, social, and environmental statistics for the 48 regional members of ADB. Download the statistical tables for Tonga.
ADB and other development partners are working closely with the Government of Tonga - through its Joint Policy Reform Matrix - to ensure priority areas are addressed and policy reform priorities are implemented. Maintaining macroeconomic stability, particularly in light of the large debt overhang; improving economic management; and achieving sustained private sector-led economic growth, while maintaining education and health standards, are priorities for the government’s medium-term policy efforts.
Future assistance is likely to continue this focus on macroeconomic stability and private sector development, particularly through the joint policy reform matrix, as well as in the areas of urban development and energy.