People

Population: 107,817 (July 2007 estimate)
Languages: English, I-Kiribati
Ethnic Groups: Predominantly Micronesian with some Polynesian

Geography

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.

Economy

Currency: Australian Dollar (AUD)
GDP Per capita (2006): USD 2,800
GDP growth (2007): 2.5%
Exports: copra, coconuts, seaweed, fish

Government

Government: Republic
Head of State: H.E. Pres The Hon Anote Tong

Exchange control

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.

Taxation

The taxation system in Kiribati is regulated by the Income Tax Act 1990.