Dr Sione Ngongo Kioa (54) became the new Governor of the National Reserve Bank of Tonga on August 21 for a five-year term which is open for renewal.

Steve Edwards, the Chairman of the NRBT Board of Directors said a Cabinet decision confirmed the new Governor's appointment, and Dr Kioa signed a five year contract of employment.

He said a panel, including himself, a former Minister of Finance ‘Afu’alo Matoto and Sefo Cocker had interviewed nine applicants, including three from abroad, before the Minister of Finance Hon. Lisiate 'Akolo recommended the appointment to Cabinet.

"[Dr Kioa] is an economist by profession and what we looked at for Governor was leadership and he was somebody with that background," said Steve.

Experience

A former Tonga High Commissioner to the United Kingdom, Dr Kioa returned to Tonga in December last year after completing a seven-year term. He was the Chairman of the Board of Governors of the Commonwealth Secretariat, Tonga's Representative to the World Trade Organisation and Ambassador to the European Union.

He is a former Board Director for the Reserve Bank and Ports Authority.

In government Dr Kioa was a Deputy Director at the Central Planning department, Deputy Secretary at the Ministry of Finance and a statician at the Statistics Department. From 1999-2001 he worked at the International Monetary Fund in Washington D.C as Assistant to the Executive Director.

From 2002-05 he moved to the Tongan private sector and was the General Manager of the Leiola Group Ltd. and President of the Tonga Chamber of Commerce.

Dr Kioa holds a Bachelor in Mathematics and Economics from the University of the South Pacific in Fiji. He holds a PhD in Macroeconomics, and a Master of Economics and Graduate Diploma from the Australian National University in Canberra.

He becomes the fourth Governor of the National Reserve Bank of Tonga, succeeding Siosi Mafi, who served 10 years as Governor, before completing her contract on 5 July 2013.