AGP Executive Report
Last update: an hour agoEnergy Costs: The Asian Development Bank approved US$40.1 million for Kiribati, Tonga and Tuvalu to cushion rising fuel costs. Kiribati will receive US$12.77 million to help maintain affordable electricity and protect essential services and vulnerable households. Growth Outlook: The IMF expects Kiribati’s economy to grow 3% in 2026, down from 4.3% last year, citing high business costs, worker shortages and pressure on state-owned enterprises. Tourism: Pacific tourism ministers meet in Honiara this week to set regional priorities and review work plans and budgets, with sustainable tourism among the goals. Shipping Links: Kiribati hosted the Central Pacific Shipping Commission’s annual meeting on Butaritari, where members discussed reliable cargo services for remote islands; Tuvalu took over the commission’s chair.
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