economy

Tonga’s economy growing, financial system sound says Reserve Bank in report to Cabinet

That’s the news from the National Reserve Bank of Tonga, which says that Tonga has enjoyed a year of economic growth and there is more good financial news to come.

The Reserve Bank said the kingdom experienced 2.5% real GDP growth in 2014/15 and can expect stronger growth of 3.3% in the next financial year.

Governments urged to consider legislative response to virtual currencies

This was one of several recommendations issued today by a Commonwealth working group set up to address  these currencies.  

After a three-day conference in London, the newly-formed Commonwealth Virtual Currencies Working Group concluded that virtual currencies have the potential to benefit countries and drive development.