Thursday, December 9, 2010

[pima.nius] Tongan PM denounces report on dire Tongan finances

11:34 AM |

Tongan PM denounces report on dire Tongan finances

Updated December 9, 2010 18:12:17

Tonga's prime minister has denounced an anonymous report alleging the country is "virtually bankrupt".

Dr Fred Sevele says while the country faces economic difficulties, the government can still pay its wages bill and has never defaulted on its loans.

He's criticised a New Zealand academic for saying the report indicates Tonga is the equivalent of an insolvent organisation.

The report was supplied anonymously to Professor Bill Hodge, of the Law Faculty at Auckland University, who says it shows an economy in dire straits.

Presenter: Bruce Hill
Speakers: Tonga's prime minister, Dr Fred Sevele; Professor Bill Hodge, of the Law Faculty at Auckland University

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