A high ranking official from the International Monetary Fund (IMF), visited Tonga this week for discussions with the Prime Minister and Tongan officials about capacity development to improve financial stability and other important issues.

Mr Tao Zhang, Deputy Managing Director of the IMF), who was making his first visit to Tonga between October 16-18, 2018 discussed possible development to enhance the management of public finances, strengthen financial sector regulations, and introduce macroprudential measures to improve financial stability.

In a statement issued today, the IMF said Mr Zhang met with Prime Minister Hon. Samuela ‘Akilisi Pohiva, the Minister of Commerce, Consumer, Trade, Innovation and Labor Hon. Dr. Tevita Tu’i Uata, the National Reserve Bank Governor Sione Kioa, senior officials, members of the diplomatic community and non-government organizations in Nuku’alofa.

 “It is my pleasure to visit the Kingdom of Tonga for the first time. I would like to thank Prime Minister Pohiva, National Reserve Bank Governor Kioa, and representatives of the Tongan people for their warm welcome and hospitality,” Mr Zhang stated.

“During our meeting, Prime Minister Pohiva and I discussed Tonga’s latest economic and social developments. I congratulated him on the reconstruction efforts that had taken place over the last several months and are continuing in the aftermath of Cyclone Gita, and the sustained increase in per capita incomes that the Tongan people have experienced over recent decades. I also had the opportunity to discuss the important issues of gender, climate change, and natural disasters in Tonga, with officials and a local non-government organization.

“We discussed, with Prime Minister Pohiva, Minister Uata, and Governor Kioa, how the IMF can help Tonga build on its achievements, including through capacity-development in areas such as enhancing the management of public finances, strengthening financial sector regulations, and introducing macroprudential measures to improve financial stability. We at the IMF value our close relationship with Tonga, and we are committed to continue to support Tonga and its people on these and other endeavors,” he stated.