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 International Monetary Fund
Tuesday 26 January 2021
Tuesday 5 May 2020
Tonga needs to grow its small private sector in order to find a lasting solution for the country's fiscal and development challenges, reports the International Monetary Fund (IMF). Tonga will need to address the structural constraints and main deterrents to investment.
Wednesday 13 April 2016
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.
Thursday 7 August 2014
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.
Sunday 30 March 2003
The assessment by the International Monetary Fund of the Tongan macro-economy during the 2001-2002 fiscal year, highlighted their grave concern over the stagnating state of the economy, the depletion of the official reserves, the marked depreciation of the Pa‘anga, mounting public indebtedness, and the rapid increase in the inflation rate.. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.