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232:
were around 28% of total deposits, reflecting the limited opportunities for domestic lending and conservative reserves management. The level of operations in the first quarter of 2001 resulted in A$ 1.2 million in new lending: 58% of personal loans were for family commitments, including funeral, wedding, and birthday expenses; 29% for travelling; and 11% for education; with the remaining 2% being advances to seamen.
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243:(IMF) on 24 June 2010. The IMF 2014 Country Report noted the NBT had restricted its exposure to public enterprises and made substantial provisions in relation to debtors. Effective of 7 October 2016, Tuvalu accepted the Article VIII obligations of the IMF Articles of Agreement, to maintaining an exchange system free of restrictions on payments for international transactions.
214:”. NBT has a board of directors consisting of the secretary for finance and four others (excluding members of Parliament) appointed by the minister for periods determined by the minister. The board is required “to ensure that Bank policy is directed towards the national interest and has due regard to the stability and balanced development of the economy of Tuvalu.”
239:, related to an ADB facility for the government of Tuvalu recommended that the NBT implementation prudent fiscal discipline to improve liquidity. The changes including the repayment by the government of Tuvalu of an overdraft of around A$ 5 million in respect of which the bank has a foregone interest of approximately A$ 500,000 per year. Tuvalu joined the
263:
Loans are available from the Tuvalu
National Provident Fund (TNPF), which is owned by its members and has the legal form as a mutual fund rather than a body corporate owned by shareholders. The TNPF invests social contributions from slightly more than half the country’s population, with payments from
231:
Between 1990 and 2000 the NBT operated profitably, returning an average 58.3% on net assets before tax and contributing an annual average of $ 507,000 in company tax and dividends to the government. Earnings on foreign exchange transactions are a major source of income. In 2001 loans and advances
267:
The
Development Bank of Tuvalu (DBT), which began in 1993, is also owned by the government of Tuvalu. The DBT provides development loans. The IMF 2014 Country Report also noted the DBT had made substantial provisions in relation to debtors.
246:
In April 2020, the NBT lost its corresponding banking relationship (CBR) with
Australian banks, which inhibits the flow of remittances and foreign exchange transactions. Although the NBT continues to have a CBR with the
377:
Tuvalu: 2010 Article IV Consultation—Staff Report; Public
Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tuvalu (IMF Country Report No. 11/46)
225:
In 2001 the NBT employed two managers (finance and administration, and lending and operations) and 38 officers, clerks, and tellers. In 2009 staff levels of the NBT were 45 employees.
348:
210:
The
National Bank of Tuvalu 1980 states that “the Bank shall act in accordance with any policy directions in the national interest given to it from time to time in writing by the
155:
transactions. The NBT buys and sells foreign exchange at rates determined by the board of the NBT, which takes account of the rates quoted in the international markets.
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of banking services involving taking deposits, making loans and engaging in foreign exchange transactions. In 2020, its assets were AUD$ 128 million, or 160% of the
559:"Tuvalu: 2014 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tuvalu"
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The TNB’s deposit rates are low by regional standards, and lending rates are the same or above the rates charged in more competitive banking systems.
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170:. Tuvalu began issuing its own coins in 1976, which circulate alongside Australian coins, and Tuvalu continues to use Australian banknotes.
217:
The board appoints a general manager for a term of up to 5 years. The general manager must attend board meetings but has no voting rights.
674:
89:
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314:
Colin Ward, Darrell Freund, Mose
Saitala and David Burrowes, for Ministry of Finance and Economic Planning of Tuvalu (July 2009).
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349:"Tuvalu: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu"
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190:, which held the remaining 40%. In 1995, the government acquired Westpac's shares. The headquarters of the NBT are at
1045:
934:
905:
832:
724:
602:
Bruce
Knapman, Malcolm Ponton, Colin Hunt, for Ministry of Finance and Economic Planning of Tuvalu (October 2001).
487:
Bruce
Knapman, Malcolm Ponton, Colin Hunt, for Ministry of Finance and Economic Planning of Tuvalu (October 2001).
458:
Bruce
Knapman, Malcolm Ponton, Colin Hunt, for Ministry of Finance and Economic Planning of Tuvalu (October 2001).
429:
Bruce
Knapman, Malcolm Ponton, Colin Hunt, for Ministry of Finance and Economic Planning of Tuvalu (October 2001).
397:
Bruce Knapman, Malcolm Ponton, Colin Hunt, for Ministry of Finance and Economic Planning of Tuvalu (October 2001).
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The NBT was established as a corporate body under the National Bank of Tuvalu 1980 as a subsidiary of
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564:. International Monetary Fund Country Report No. 14/253. 5 August 2014. p. 5
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383:. International Monetary Fund. February 2011. pp. 4–5 & Annexure I.
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Technical Assistance Consultant's Report - Project Number: 35064 (TA3735)
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Technical Assistance Consultant's Report - Project Number: 35064 (TA3735)
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Technical Assistance Consultant's Report - Project Number: 35064 (TA3735)
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Technical Assistance Consultant's Report - Project Number: 35064 (TA3735)
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Technical Assistance Consultant's Report - Project Number: 35064 (TA3735)
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536:. International Monetary Fund press release no. 16/483. 3 November 2016
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162:. There are no credit-card facilities or ATMs available in Tuvalu. The
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Technical Assistance Consultant's Report - Project Number: 41180-01-2
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351:. International Monetary Fund Country Report No. 21/176. August 2021
591:. International Monetary Fund. September 2012. pp. 8 & 14.
148:, including the holding of government accounts and foreign assets.
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Tuvalu: 2012 Article IV Consultation—IMF Country Report No. 12/259
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The NBT has maintained its profitable as of 2008. A review by the
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in Tuvalu. The NBT performs some monetary functions for the
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The NBT is the only institution in Tuvalu that provides
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is not an independent currency, but a variation of the
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491:. Asian Development Bank. pp. xviii & 17.
182:. In 1985, it became a joint venture between the
517:Country Partnership Strategy - Tuvalu: 2008–2012
401:. Asian Development Bank. pp. 72 & 74.
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606:. Asian Development Bank.
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105:8.524361°S 179.195361°E
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237:Asian Development Bank
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1025:Portal
773:Niutao
658:Tuvalu
192:Vaiaku
127:Tuvalu
40:Tuvalu
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977:Music
947:Crime
589:(PDF)
562:(PDF)
381:(PDF)
962:Flag
618:link
570:2016
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357:2021
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117:The
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