Two Deputy Governors appointed for Nat'l Reserve Bank of Tonga [1]
Tuesday, July 25, 2023 - 17:38
Two Deputy Governors were appointed for the National Reserve Bank of Tonga, approved by the Reserve Bank Board of Directors on 21 July.
‘Ungatea Latu was appointed as the Deputy Governor Policy, while Lata Tangimana was appointed as the Deputy Governor Operations, for five-year terms.
Reserve Bank Governor, Tatafu Moeaki, welcomed the appointments, stated, "both appointments will strengthen our executive management as the nature and frequency of economic shocks affecting Tonga has increased its frequency in recent years and changed its dimension. The Bank’s executive management is gearing up to strengthen its capacity to be more resilient and robust to sudden and unexpected changes including their respective macro scenarios and policy responses to contribute positively to the livelihood of all Tongans.”
‘Ungatea Latu will be responsible for the Bank’s Policy Departments, leading the supervision of the Financial System, Financial Markets, Economics and Financial Intelligence.
'Ungatea has served the bank for over 25 years with experience in the supervision of banks and other financial institutions, formulation and implementation of monetary policy, and undertaking the Bank’s anti-money laundering functions. Latu has gained international experience with her two-year secondment as an Advisor to the Executive Director of the South East Asia Group of the International Monetary Fund (IMF).
Meanwhile, Lata Tangimana will be responsible for the Bank’s Operation Departments, leading the supervision of its financial management, Currency, Information Technology, Payment System, Human Resource, and Property. He has also served the Bank for over 25 years and worked in the general operation of the Bank.