Population: 107,817 (July 2007 estimate)
Languages: English, I-Kiribati
Ethnic Groups: Predominantly Micronesian with some Polynesian
Kiribati is located on the equator and is made up of the Line and Phoenix group of islands. Kiribati occupies an area of about 3.5 million kilometres of the Pacific Ocean.
Currency: Australian Dollar (AUD)
GDP Per capita (2006): USD 2,800
GDP growth (2007): 2.5%
Exports: copra, coconuts, seaweed, fish
Head of State: H.E. Pres The Hon Anote Tong
Kiribati is one of the least developed island nations in the Pacific. It has a small financial system which is closely tied to Australia’s financial system.
Kiribati utilises the Australian dollar; there is no central bank or a national currency. Interest rates are set by the Reserve Bank of Australia.
The only commercial bank in Kiribati is the Bank of Kiribati Limited, a joint-partnership between the Government of Kiribati, which owns 25%, and ANZ, which owns 75% since its purchase in October 2001.
The taxation system in Kiribati is regulated by the Income Tax Act 1990.