The Governor of the National Reserve Bank of Tonga Joyce Mafi announced that as of today, November 23, all travellers departing the Kingdom of Tonga are allowed to take out of the country local and foreign currency notes, of not more than TOP$10,000, or its equivalent.

Joyce said that this measure was part of proposed legislative amendments that were submitted to Government to be finalised and processed through the normal procedures. But due to the burning of Nuku'alofa last week, she had

recommended that this process be accelerated under the Emergency Powers Regulations 2006, in order to protect the economy from any potential irrational rush to move cash out of the country. In addition, the Ministry of Finance is concerned that people may decide to take substantive amounts of cash out of the country whether in local or foreign currency. If that is allowed to happen, she said it would produce immediate economic and financial hardships for the Kingdom and its people.

Export of cash exceeding TOP$10,000 whether in local or foreign currency or a mixture of the currencies is prohibited except with the written permission of the Governor of the National Reserve Bank.

““Under the Emergency Powers Regulations, any amount discovered that exceeds TOP$10,000 will be confiscated and forfeited to the Crown unless the traveller satisfies the Minister of Finance in writing that all or part of the restricted cash should be returned,”” said the Governor.