Tonga: Staff Report for the 2012 Article IV Consultation

July 9, 2012

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Tonga: Staff Report for the 2012 Article IV Consultation, (USA: International Monetary Fund, 2012) accessed September 19, 2024

Summary

In Tonga, the fiscal position has strengthened but vulnerabilities remain. Directors have welcomed Tonga’s recovery from the global crisis but noted remaining vulnerabilities and a high debt burden. With downside risks clouding the outlook, Directors have emphasized the importance of strengthening policy buffers and the foundation for faster and more inclusive growth. Directors have also encouraged the authorities to implement their fiscal plans within a medium-term framework and to improve further the quality of public spending to meet Tonga’s development objectives.

Subject: Balance of payments, Bank credit, Expenditure, External debt, Money, Public debt, Remittances

Keywords: Asia and Pacific, Australia and New Zealand, Bank credit, Control inflation, CR, Credit growth, Debt, East Asia, GDP, Global, IMF debt sustainability analysis, Inflation pressure, Inflation risk, ISCR, Pacific Islands, Remittance inflow, Remittances, Tonga, Tongan economy

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/166
Stock No:

1TONEA2012001
ISBN:

9781475506099
ISSN:

1934-7685

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