[?]ebtless Tonga

Seeks Its First Foreign Loans

Longa, until now the only

mtry with no foreign debt, has

ently been exploring the possi

ity of raising loans with the >rld Bank and the US Export port Bank for various projects.

ONGA’S Finance Minister, Mr. M.

U. Tupouniua, said this in Syd r in April on his way home from cs in London, Washington and neva. ‘We have a number of projects be e us, such as the limited develop nt of the tourist trade, a harbour igramme and coconut tree re nting,” he said.

Tt is also planned to build a dern tourist hotel at Nukualofa, well as improve the capital’s air t. ‘We do not want to make our rist trade too commercialised and ng too many tourists to Tonga, t we must have better and more quent air services than we now Tonga certainly will not be ned into another Hawaii or Ta i.”

Earlier, in London, Mr. Tupouniua d: “Tonga has so far taken care its problems by its own thrift, iw we are faced with the problems over-population and unemploy nt.

Tonga is not in an immediate sis, but we can see we must de op our potentials to keep in step h modern times.”

Lhe mission was “extremely satis ;tory”, Mr. Tupouniua said in va on the last leg of his return 3. He was satisfied that Tonga’s inces of getting finance were very ad and he was now in a position advise his Government about the >t way of getting funds.

He said that in Washington he had ;n officials of the International nk, in London he had met Colonial free officials and in Geneva he had :n officials of the Swiss Bank Cor ration.

Mr. Tupouniua added that Tonga’s jsent population of 65,000 was Dwing at the rate of 3 per cent, /ear.