## 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)

_Technical Assistance Reports, November 26, 2025_

## Source details

**Canonical URL:** [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)](https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126)

## Other formats

- [Markdown version](/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126/index.md)
- [Structured JSON version](/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126/index.json)
- [Bundle manifest](/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126/bundle-manifest.json)

## Bibliographic details
- Published: November 26, 2025
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229031981.019

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### Project overview
- 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.

### Activities and timeline
- 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.

### Key findings and outcomes
- 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.

### Recommendations
- Ensure FPAS work sustainability within NRBT institutional structures and processes.
- Further streamline external communications to effectively convey model-based forecasts and policy analysis.

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## Content in this bundle

- **Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT**
  - [Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT (Markdown version)](/-/media/files/publications/tar/2025/english/tarea2025099-source-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Preface — IMF Technical Report: Tonga TA on Developing FPAS at the NRBT (PDF)](/-/media/files/publications/tar/2025/english/tarea2025099-source-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/11/26/tonga-technical-assistance-report-macroeconomic-frameworks-technical-assistance-ta-on-572126_