ADB ANNOUNCES USD0.5 MILLION GRANT TO HELP TONGA IN RELIEF EFFORTS

The Asian Development Bank (ADB) announced a USD500,000 (1.13 million pa’anga) grant to the Government of Tonga to help restore life-sustaining services following the extensive damage from an undersea volcanic eruption and subsequent tsunami in Tonga and around the Pacific.

World Bank Disaster Assessment Report estimates damages following Hunga Tonga Hunga Ha’apai volcanic eruption and tsunami at TOP$208m (US$90M)

A World Bank assessment for the Government of Tonga has found the Tonga HungaTonga-Hunga-Ha’apai volcanic eruption, tsunami and ashfall has caused an estimated T$208m (US$90M) in damages – the equivalent of approximately 18.5% of Tonga’s Gross Domestic Product (GDP)

Following a request from the Government of Tonga, the World Bank undertook a rapid post-disaster damage assessment deploying the GRADE methodology.

The people of Tonga are still overwhelmed with the impact of a volcanic eruption at Hunga Tonga – Hunga Ha’apai, tantamount to an earthquake, on Saturday evening, 15th January, 2022.  The catastrophe triggered tsunami waves, causing illness / injury / death, extensive and catastrophic damages to houses, assets, water & sanitation, vegetation and the environment. Most devastated were nearby islands in Ha’apai, ‘Eua,  ‘Atata, and west and north coast of  Tongatapu.

Global Economy

September 2021 Quarterly Economic Report

The Quarterly Economic Report is purposely provided to give an update on the status of the economy on a quarterly basis.  The report reflects on key selected economic indicators base on the latest data and information, economic activities and events occurred during the quarter.  The quarterly reports are regularly posted in the Ministry of Finance’s website.