Tonga’s economy is performing strongly but faces growing headwinds, the International Monetary Fund (IMF) stated in its country report for Tonga published on 3 November. Although tourism-related services are recovering, tourism receipts as a share of GDP are anticipated to remain below pre-pandemic levels until FY2026 due to slow reconstruction of damaged facilities. Worker migration is causing severe labour shortages.
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Results for IMF
Monday 6 November 2023
Nuku'alofa, Tonga
Monday 7 August 2023
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Nuku'alofa, Tonga
Although Tonga's economy is rebounding strongly from a major double shock in early 2022, Tonga is confronting important challenges to long-term growth posed by sustained worker outflows and increasingly frequent natural disasters, says the International Monetary Fund.
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Tuesday 26 January 2021
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Nuku'alofa, Tonga
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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Thursday 28 May 2020
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Washington D.C., U.S.A
Already among the most remote countries on earth, Pacific island states saw their vital economic links weakened in recent months with the evaporation of tourism, severe disruptions to international trade, and a reduction in remittances. For these countries, the COVID-19 pandemic may cut deeper than even some of the worst cyclones from years past. Emergency assistance for Pacific island countries will be considered by the IMF’s Executive Board in the coming weeks, says a new report.
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Tuesday 22 October 2019
Washington D.C., U.S.A
Although multilateralism is in crisis, different fates await the multilateral institutions that were created under the Bretton Woods Agreement 75 years ago. While the International Monetary Fund has found renewed relevance in a world of crises, the World Bank has suffered under the poor leadership of a parade of American men.
Monday 14 January 2019
New York, USA
In a world divided by conflict and greed, the Global Fund’s fight against AIDS, tuberculosis, and malaria is a matter of enlightened self-interest and a reminder of how much humanity can accomplish when we cooperate to save lives. For public and private donors, that means providing the financing needed to eliminate all three scourges by 2030.
Thursday 18 October 2018
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Nuku'alofa, Tonga
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.
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Thursday 20 April 2017
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Apia, Samoa
Samoa is leading the Asia Pacific region in statistical data transparency becoming the first country in the area to launch a new National Summary Data Page (NSDP), a one-stop statistics shop for publishing essential macroeconomic data, critical for monitoring economic conditions and policies.
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Friday 31 March 2017
Nuku'alofa, Tonga
The International Monetary Fund (IMF) said in a preliminary statement this week that Tonga’s “economic activity is expanding and likely to remain relatively strong into the next couple of years”. However, the IMF found that there was a lack of recent statistical information available such as government finance, inflation, balance of payments, and national accounts data for their assessment of economic development.
Wednesday 13 April 2016
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Washington D.C., U.S.A
The Republic of Nauru (pop. 10,500) officially joined the International Monetary Fund (IMF) on 12 April 2016, after applying for membership in April 2014 becoming its 189th member. Nauru’s initial quota in the IMF is around US$2.8 million.
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Thursday 7 August 2014
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Washington, USA
A need to continue to improve the business environment in Tonga and to bolster confidence is stressed by the International Monetary Fund (IMF) in its 2014 country report for Tonga released today, which also notes that the Tongan economy is rebounding supported by agricultural exports and post-cyclone reconstruction activity.
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Friday 26 April 2013
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London, UK
IMF First Deputy Managing Director David Lipton (yesterday, 25 April) called on European policy makers to take decisive and sustained actions to strengthen the continent’s prospects for growth and avoid the risk of stagnation.
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Wednesday 27 March 2013
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Nuku'alofa, Tonga
The Tongan economy is stuck in a "development trap", according an International Monetary Fund (IMF) report on the current state of the Tongan economy that was released on Monday, March 25.
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Thursday 3 May 2012
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Washington DC, USA
IMF Managing Director Christine Lagarde Welcomes Progress towards Using US$1.1 Billion of Gold Profits as part of a strategy to Boost Concessional Lending to Low-Income Countries and Calls on More Members to Join Effort.
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Friday 13 April 2012
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Washington, USA
The global economy must help deliver the right type of growth and the jobs that people need. That is not happening on the scale needed right now and therefore some fundamental issues need to be addressed, Christine Lagarde, Managing Director of the International Monetary Fund, said in an address to the Brookings Institute, on April 12, when she called on strengthened cooperation and a strengthened IMF to help take advantage of "the tectonic shifts taking place in the global economy", and to achieve equitable and inclusive growth.
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Thursday 22 March 2012
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Washington, USA
Mr. Min Zhu, Deputy Managing Director of the International Monetary Fund (IMF), will visit Apia, Samoa, on March 23, 2012 to address a high-level conference co-hosted with the Government of Samoa on "Fostering Inclusive Growth and Building Resilience" in the Pacific islands.
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Monday 16 January 2012
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Washington DC,USA
The International Monetary Fund (IMF) is looking to work ever more closely with Asia to lessen the impact of the global crisis on the region and to help promote sounder and stronger growth globally, David Lipton, IMF First Deputy Managing Director, said today.
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Wednesday 7 April 2004
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Nuku'alofa, Tonga
Tonga's high inflation rate of 12 per cent, is a stumbling block for economic recovery, and a major cause of misery for ordinary Tongans, and urgently needs to be reduced. Martin Cerisola, the leader of an International Monetary Fund delegation, winding-up their annual visit to Tonga on April 2, said that high inflation had the most adverse affect on low income earners. "It affects the poor the most, and I emphasised that inflation should be brought down to a sustainable level.
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Sunday 30 March 2003
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Nuku‘alofa, Tonga
During 2002 inflation accelerated to about 10 per cent and price pressures increased, as Tonga’s expansionary macroeconomic policies resulted in a marked decline in net foreign assets, a weaker pa‘anga and higher inflation, according to a new IMF report. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.
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