{
  "title": "Tonga: Technical Assistance Report-Macroeconomic Frameworks Technical Assistance (TA) on Developing a Forecasting and Policy Analysis System (FPAS) at the National Reserve Bank of Tonga (NRBT)",
  "publication": "Technical Assistance Reports, November 26, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126",
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  "summary": "This technical assistance (TA) report presents the outcomes of the multi-year National Reserve Bank of Tonga (NRBT) Forecasting and Policy Analysis System (FPAS) TA project, conducted between late-2021 and mid-2025 over a total of eleven missions, five in-person and six virtual.",
  "sections": [
    {
      "heading": "Project overview",
      "content": "- Multi-year Technical Assistance (TA) project spanning late-2021 to mid-2025.\n- Objective: build institutional capacity at the National Reserve Bank of Tonga (NRBT) for model-based policy analysis and macroeconomic forecasting and integrate FPAS into monetary policy processes and external communications.\n- Total missions: eleven missions, five in-person and six virtual."
    },
    {
      "heading": "Activities and timeline",
      "content": "- Project period: late-2021 through mid-2025.\n- Missions conducted: eleven missions (five in-person; six virtual).\n- Emphasis on: developing a Forecasting and Policy Analysis System (FPAS), training NRBT staff in model-based analysis, and integrating model outputs into forward-looking monetary policy formulation."
    },
    {
      "heading": "Key findings and outcomes",
      "content": "- NRBT staff made remarkable progress and built a strong skillset for providing analytical support to policymakers.\n- Model-based work now plays an important role in NRBT internal discussions.\n- FPAS outputs represent an important input in forward-looking monetary policy formulation.\n- External communications currently require further streamlining to reflect FPAS-based analysis."
    },
    {
      "heading": "Recommendations",
      "content": "- Ensure FPAS work sustainability within NRBT institutional structures and processes.\n- Further streamline external communications to effectively convey model-based forecasts and policy analysis.\n\n---\n\n Content in this bundle\n\n- Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT\n  - Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126"
    }
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    "Published: November 26, 2025",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229031981.019",
    "Multi-year Technical Assistance (TA) project spanning late-2021 to mid-2025.",
    "Objective: build institutional capacity at the National Reserve Bank of Tonga (NRBT) for model-based policy analysis and macroeconomic forecasting and integrate FPAS into monetary policy processes and external communications.",
    "Total missions: eleven missions, five in-person and six virtual.",
    "Project period: late-2021 through mid-2025.",
    "Missions conducted: eleven missions (five in-person; six virtual).",
    "Emphasis on: developing a Forecasting and Policy Analysis System (FPAS), training NRBT staff in model-based analysis, and integrating model outputs into forward-looking monetary policy formulation.",
    "NRBT staff made remarkable progress and built a strong skillset for providing analytical support to policymakers.",
    "Model-based work now plays an important role in NRBT internal discussions.",
    "FPAS outputs represent an important input in forward-looking monetary policy formulation.",
    "External communications currently require further streamlining to reflect FPAS-based analysis.",
    "Ensure FPAS work sustainability within NRBT institutional structures and processes.",
    "Further streamline external communications to effectively convey model-based forecasts and policy analysis.",
    "**Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT**"
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      "title": "Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT",
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