Results for National Reserve Bank of Tonga

Business and households’ purchasing power are declining, states the National Reserve Bank of Tonga, while stressing the importance of price stability in the short-term as it moves to strengthen the monetary policy framework that seeks to better control inflation, and build the resilience of the financial sector, promote macroeconomic stability and support economic growth recovery. The Monetary Policy Statement (MPS) for February 2023 outlines a revised monetary policy stance. ‘Oku ne holoki leva ‘a e ivi fakatau ‘a e ngaahi pisinisi′ mo e kakai′, pea ‘oku fakamamafa‘i ai ‘e he Pangikē Pule′ ...

Counterfeit $20, $50 and $100 pa'anga notes have recently been found in Tonga, the National Reserve Bank of Tonga has warned.

Tonga’s Domestic Economic activities showed some improvements in May 2021, Sione Ngongo Kioa, the Governor of Tonga’s National Reserve Bank told the National Reserve Bank of Tonga’s Board of Directors on 5 August. However, the Reserve Bank’s GDP outlook projected a deeper contraction in Tonga’s economy for 2020-21 as the extended lockdowns and uncertainties present significant risk.

A “worse-than-expected outcome” for Tonga's GDP in the fiscal years 2019-20 and 2020-21 was forecast by the National Reserve Bank of Tonga, following its first board meeting for the year. During the COVID-19 international crisis Tonga's annual inflation has increased and agricultural exports have fallen. Bank lending decreased, while deposits increased.

PUBLIC NOTICE: To regulate and supervise non-bank financial institutions, the National Reserve Bank of Tonga developed the Moneylenders Act 2018. This Act was proclaimed by Cabinet to come into force on 30th September 2020, and a Gazette notice has been publicly posted and published on the Reserve Bank’s website and Facebook page. The Reserve Bank is requesting that those moneylenders listed in the following Table below please contact the Reserve Bank as soon as possible to apply for a moneylender license. For more information in English and Tongan ... Lao ki hono Tokanga’i mo Pule’i ‘o e Ngaahi Kautaha Nō atu ‘o e Pa’anga ‘i Tonga΄ ...

Tonga’s National Reserve Bank on July 1 2020 declared that Tonga’s economy would remain contracted during the current Fiscal Year due to the negative impacts of Cyclone Harold and the continuing COVID-19 restriction.

Tonga’s Official Foreign Reserve held by the National Reserve Bank was $457.5 million at the end of March, equivalent to 6.8 months of imports.

Are you affected by the Foreign Exchange Control Act of 2018? This is a question we should all ask.... Even if this Act was intended to stifle foreign investment in Tonga, why put the severe restrictions on what the residents of Tonga can or cannot do with their money? - Dean Bishoprick

The National Reserve Bank of Tonga aims at securing Tonga’s Foreign Reserves at a level of about $457.3 million, equivalent to more than seven months of imports, with the enforcement of the Foreign Exchange Control Act 2018 on 1 November. The Act requires Tongan exporters to repatriate at least 60% of their export proceeds. And, if the economy fails and the foreign reserves drop below the threshold, - then the Act gives the government the right to try and force Tongans who have invested overseas to repatriate their funds to Tonga. The Act was passed at the time Tonga expected to start repaying its loans to China.