European Parliament Library

Tonga :, 2011 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Alternate Executive Director for Tonga

Abstract
Tonga’s economy showed recovery from recent shocks on the back of stronger tourism activity and fiscal expansion. In spite of generous grant inflows, Tonga remains at “high risk of debt distress” according to World Bank-IMF debt sustainability analysis. Executive Directors stressed that fiscal consolidation is necessary to ensure fiscal sustainability, and encouraged authorities to set up a comprehensive debt-management strategy to limit the credit and currency risks. Directors welcomed the government’s policy to pursue structural reforms to promote private sector activity and restore fiscal sustainability
Table Of Contents
Cover; CONTENTS; Appendix; I. DRAFT PUBLIC INFORMATION NOTICE; INTRODUCTION; RECENT DEVELOPMENTS; Figures; 1. ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; POLICY DISCUSSIONS; 2. EXCHANGE RATE AND FISCAL POLICY DEVELOPMENTS; 3. MONETARY POLICY AND FINANCIAL SECTOR DEVELOPMENTS; Boxes; 1. EXCHANGE RATE ASSESSMENT; 2. THE INTEREST RATE CHANNEL OF THE MONETARY POLICY TRANSMISSION IN TONGA; 3. BANK INTEREST RATES AND PROFITABILITY IN TONGA; 4. MEDIUM-TERM BUDGET FRAMEWORK; STAFF APPRAISAL; Tables; 1. SELECTED ECONOMIC INDICATORS; 2. SUMMARY OF GOVERNMENT OPERATIONS; 3. DEPOSITORY CORPORATIONS SURVEY
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (69 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462309238

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