Tonga have been fixing their balance sheets since late 2008. Shrinking the loan books and increasing holdings of reserve … Bank of Tonga has aggressively infused liquidity into the system, and stepped up risk-based supervision. Progress in …

deleveraging cycle of the Tongan banks appears to be ending, and thus National Reserve Bank of Tonga should prepare to gradually … authorities plan to lower the cost of credit through supportive credit policies, including by commercializing the Tonga …

This 2008 Article IV Consultation highlights that Tonga’s economy has shown resilience in the aftermath of the November … food prices has intensified pressure on inflation and external reserves. Tonga’s external position is expected to weaken …

Tonga’s growth is likely to be low in the near term as remittances remain constrained by global economic conditions …. The staff report for Tonga’s 2009 Article IV Consultation highlights economic developments and policies. The …

This report analyzes the recent economic developments of Tonga by assessing the potential output, prices, employments …, money and credit development, and monetary policy objective of the national reserve bank of Tonga. The study also provides …

Tonga’s high debt and the apparent ineffectiveness of the monetary transmission mechanism constrain the authorities … prices would also hit Tonga hard, feeding through to inflation, growth, and the current account deficit. Tonga’s high public …

This Selected Issues paper assesses the fiscal risk impact of various events in Tonga and describes the challenges … expenditures, and seeking donor assistance. The paper examines rising household indebtedness in Tonga. Within the framework of the … life-cycle hypothesis, the paper finds that Tonga’s relatively young demographic distribution tends to be associated with …

This 2007 Article IV Consultation highlights that Tonga’s real GDP growth is estimated to turn negative in FY06 …