## Tonga: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tonga

_IMF Staff Country Reports, August 26, 2022_

## Source details

**Canonical URL:** [Tonga: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tonga](https://www.imf.org/en/publications/cr/issues/2022/08/25/tonga-2022-article-iv-consultation-and-request-for-disbursement-under-the-rapid-credit-522628)

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## Bibliographic details
- Published: August 26, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216855.002

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### Economic impact and near-term outlook
- Tonga’s nascent economic recovery following Tropical Cyclone Harold and border closures in early 2020 has been severely disrupted by:
  - the Hunga Tonga–Hunga Haʻapai volcanic eruption, and
  - the first local outbreak of COVID-19 at the start of 2022.
- Real GDP projections:
  - Real GDP is projected to contract by 1.9 percent in FY2022 (July 2021–June 2022).
  - Real GDP is projected to rebound by 3.2 percent in FY2023 with a gradual reopening of international borders.
- Authorities are augmenting reconstruction and restoration efforts, with support from the international community.

### Key substantive themes and analytical focus
- Debt sustainability analysis
- Environment and climate resilience
- External debt and public debt management
- Monetary policy and monetary policy mix
- Revenue administration and strengthening tax capacity
- Natural disasters and disaster response as a priority area
- Role of Australia and New Zealand in regional context
- Engagement with the International Monetary Fund and international community support

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- **1tonea2022001**
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_Source: https://www.imf.org/en/publications/cr/issues/2022/08/25/tonga-2022-article-iv-consultation-and-request-for-disbursement-under-the-rapid-credit-522628_