Tonga : 2013 Article IV Consultation

Publication Date: July 25, 2013
Electronic Access: Free Full text (PDF file size is 1,332KB).
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Summary: This staff report on Tonga’s 2013 Article IV Consultation discusses the economic development and policies. Banks in Tonga have been fixing their balance sheets since late 2008. Shrinking the loan books and increasing holdings of reserve assets have prompted negative macro-financial linkages, and reduced business confidence. In response, the National Reserve Bank of Tonga has aggressively infused liquidity into the system, and stepped up risk-based supervision. Progress in improving the regulatory and institutional infrastructure has also continued, including inauguration of a credit bureau. Major gains have been made in budget transparency, the establishment of a Treasury Single Account system, and better prioritization of the budget.
Series: Country Report No. 13/234
Subject(s): Article IV consultation reports | Economic growth | Fiscal policy | Fiscal consolidation | Fiscal reforms | Tax reforms | Monetary policy | Banks | Economic indicators | Debt sustainability analysis | Press releases | Staff Reports | Tonga

Publication Date: July 25, 2013
ISBN/ISSN: 9781475537628/1934-7685 Format: Paper
Stock No: 1TONEA2013001 Pages: 61
US$18.00 (Academic Rate:
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