The IMF has approved US$9.95 million under its Rapid Credit Facility, to help meet Tonga’s “urgent balance of payments and fiscal needs arising due to the COVID-19 pandemic and Cyclone Harold.” Tonga's early closure of external borders had helped avoid a worse economic outcome. “Nevertheless, an economic contraction is expected in FY2021.”
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Results for Cyclone Harold
Tuesday 26 January 2021
Friday 1 May 2020
The Tonga government will receive a US$4.5 million (about $10.4M pa'anga) insurance payout for destruction caused by Severe Tropical Cyclone Harold on April 9, under its cover with the Pacific Catastrophe Risk Insurance Company.