Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Dancing --- Ethnology --- Danse --- Anthropologie sociale et culturelle --- Tonga --- Moeurs et coutumes --- Dance --- Dances --- Amusements --- Performing arts --- Balls (Parties) --- Eurythmics --- Tonga Islands --- Friendly Islands --- Kingdom of Tonga --- Puleʻanga Fakatuʻi ʻo Tonga --- Koningkryk van Tonga --- Tongako Erreinua --- Tongako Erresuma --- Тонга --- Tonha --- Království Tonga --- Kraljevina Tonga --- Königreich Tonga --- Τόνγκα --- Tonnka --- Βασίλειο της Τόνγκα --- Vasileio tēs Tonnka --- Tongo --- Tonga Reĝlando --- Tonga Kuningriik --- Tongan kuningaskunta --- Royaume des Tonga --- Royaume de Tonga --- Reino de Tonga --- Teyrnas Tonga --- Puleʻanga ʻo Tonga --- Government of Tonga --- Puleʻanga Tonga --- Pule ʻAnga Tonga --- Королевство Тонга --- Korolevstvo Tonga --- 汤加 --- Tangjia --- Tang jia --- 汤加王国 --- Tangjia wangguo --- Tang jia wang guo --- Tonqa --- Tonqa Krallığı --- Kongedømmet Tonga --- Kongsríki Tonga --- Ríocht Thonga --- Yn Tongey --- Reeriaght ny Tongey --- Тонhлмудин Нутг --- Tonḣlmudin Nutg --- Kerajaan Tonga --- Тонгæ --- Tongæ --- Тонгæйы Къаролад --- Tongæĭy Kʺarolad --- Konungsríkið Tonga --- Regno di Tonga --- טונגה --- Ṭongah --- ממלכת טונגה --- Mamlekhet Ṭongah

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This Selected Issues paper assesses the fiscal risk impact of various events in Tonga and describes the challenges implied for fiscal management. The paper discusses that the Tongan government has made various efforts to limit the budgetary implications of the recent economic and political shocks, including pursuing revenue administration efforts, cutting other 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 higher level of aggregate household debt.

Fiscal policy --- Debt --- Households --- Economic aspects --- Tonga --- Economic policy. --- Economic conditions. --- Population --- Families --- Home economics --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Indebtedness --- Finance --- Government policy --- Tonga Islands --- Friendly Islands --- Kingdom of Tonga --- Puleʻanga Fakatuʻi ʻo Tonga --- Koningkryk van Tonga --- Tongako Erreinua --- Tongako Erresuma --- Тонга --- Tonha --- Království Tonga --- Kraljevina Tonga --- Königreich Tonga --- Τόνγκα --- Tonnka --- Βασίλειο της Τόνγκα --- Vasileio tēs Tonnka --- Tongo --- Tonga Reĝlando --- Tonga Kuningriik --- Tongan kuningaskunta --- Royaume des Tonga --- Royaume de Tonga --- Reino de Tonga --- Teyrnas Tonga --- Puleʻanga ʻo Tonga --- Government of Tonga --- Puleʻanga Tonga --- Pule ʻAnga Tonga --- Королевство Тонга --- Korolevstvo Tonga --- 汤加 --- Tangjia --- Tang jia --- 汤加王国 --- Tangjia wangguo --- Tang jia wang guo --- Tonqa --- Tonqa Krallığı --- Kongedømmet Tonga --- Kongsríki Tonga --- Ríocht Thonga --- Yn Tongey --- Reeriaght ny Tongey --- Тонhлмудин Нутг --- Tonḣlmudin Nutg --- Kerajaan Tonga --- Тонгæ --- Tongæ --- Тонгæйы Къаролад --- Tongæĭy Kʺarolad --- Konungsríkið Tonga --- Regno di Tonga --- טונגה --- Ṭongah --- ממלכת טונגה --- Mamlekhet Ṭongah --- Labor --- Macroeconomics --- Money and Monetary Policy --- Industries: Financial Services --- Wages, Compensation, and Labor Costs: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Aggregate Factor Income Distribution --- Labour --- income economics --- Monetary economics --- Civil service & public sector --- Wage adjustments --- Consumer credit --- Loans --- Public sector wages --- Money --- Financial institutions --- Economic theory --- Civil service --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

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.

Economic indicators --- Business indicators --- Indicators, Business --- Indicators, Economic --- Leading indicators --- Economic history --- Quality of life --- Economic forecasting --- Index numbers (Economics) --- Social indicators --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Tonga --- Tonga Islands --- Friendly Islands --- Kingdom of Tonga --- Puleʻanga Fakatuʻi ʻo Tonga --- Koningkryk van Tonga --- Tongako Erreinua --- Tongako Erresuma --- Тонга --- Tonha --- Království Tonga --- Kraljevina Tonga --- Königreich Tonga --- Τόνγκα --- Tonnka --- Βασίλειο της Τόνγκα --- Vasileio tēs Tonnka --- Tongo --- Tonga Reĝlando --- Tonga Kuningriik --- Tongan kuningaskunta --- Royaume des Tonga --- Royaume de Tonga --- Reino de Tonga --- Teyrnas Tonga --- Puleʻanga ʻo Tonga --- Government of Tonga --- Puleʻanga Tonga --- Pule ʻAnga Tonga --- Королевство Тонга --- Korolevstvo Tonga --- 汤加 --- Tangjia --- Tang jia --- 汤加王国 --- Tangjia wangguo --- Tang jia wang guo --- Tonqa --- Tonqa Krallığı --- Kongedømmet Tonga --- Kongsríki Tonga --- Ríocht Thonga --- Yn Tongey --- Reeriaght ny Tongey --- Тонhлмудин Нутг --- Tonḣlmudin Nutg --- Kerajaan Tonga --- Тонгæ --- Tongæ --- Тонгæйы Къаролад --- Tongæĭy Kʺarolad --- Konungsríkið Tonga --- Regno di Tonga --- טונגה --- Ṭongah --- ממלכת טונגה --- Mamlekhet Ṭongah --- Economic conditions. --- Economic policy. --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Money and Monetary Policy --- Public Finance --- International Lending and Debt Problems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Remittances --- Taxation, Subsidies, and Revenue: General --- International economics --- Public finance & taxation --- Monetary economics --- Banking --- Financial services law & regulation --- Bank credit --- Public debt --- External debt --- Public and publicly-guaranteed external debt --- Money --- Revenue administration --- Debts, External --- Credit --- Debts, Public --- Banks and banking --- International finance --- Revenue

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This staff report on Tonga’s 2013 Article IV Consultation discusses the economic development and policies. Banks in Tonga have been fixing their balance sheets since late 2008. Shrinking the loan books and increasing holdings of reserve assets have prompted negative macro-financial linkages, and reduced business confidence. In response, the National Reserve Bank of Tonga has aggressively infused liquidity into the system, and stepped up risk-based supervision. Progress in improving the regulatory and institutional infrastructure has also continued, including inauguration of a credit bureau. Major gains have been made in budget transparency, the establishment of a Treasury Single Account system, and better prioritization of the budget.

Tonga --- Tonga Islands --- Friendly Islands --- Kingdom of Tonga --- Puleʻanga Fakatuʻi ʻo Tonga --- Koningkryk van Tonga --- Tongako Erreinua --- Tongako Erresuma --- Тонга --- Tonha --- Království Tonga --- Kraljevina Tonga --- Königreich Tonga --- Τόνγκα --- Tonnka --- Βασίλειο της Τόνγκα --- Vasileio tēs Tonnka --- Tongo --- Tonga Reĝlando --- Tonga Kuningriik --- Tongan kuningaskunta --- Royaume des Tonga --- Royaume de Tonga --- Reino de Tonga --- Teyrnas Tonga --- Puleʻanga ʻo Tonga --- Government of Tonga --- Puleʻanga Tonga --- Pule ʻAnga Tonga --- Королевство Тонга --- Korolevstvo Tonga --- 汤加 --- Tangjia --- Tang jia --- 汤加王国 --- Tangjia wangguo --- Tang jia wang guo --- Tonqa --- Tonqa Krallığı --- Kongedømmet Tonga --- Kongsríki Tonga --- Ríocht Thonga --- Yn Tongey --- Reeriaght ny Tongey --- Тонhлмудин Нутг --- Tonḣlmudin Nutg --- Kerajaan Tonga --- Тонгæ --- Tongæ --- Тонгæйы Къаролад --- Tongæĭy Kʺarolad --- Konungsríkið Tonga --- Regno di Tonga --- טונגה --- Ṭongah --- ממלכת טונגה --- Mamlekhet Ṭongah --- Economic policy. --- Economic conditions. --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Statistics --- Budgeting --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Remittances --- National Government Expenditures and Related Policies: General --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- General Aggregative Models: General --- International economics --- Public finance & taxation --- Econometrics & economic statistics --- Banking --- Budgeting & financial management --- External debt --- Public debt --- Public and publicly-guaranteed external debt --- Debt service --- Public financial management (PFM) --- National accounts --- Government finance statistics --- Economic and financial statistics --- Debts, External --- Debts, Public --- Banks and banking --- International finance --- Finance --- Finance, Public --- National income

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

In Tonga, the fiscal position has strengthened but vulnerabilities remain. Directors have welcomed Tonga’s recovery from the global crisis but noted remaining vulnerabilities and a high debt burden. With downside risks clouding the outlook, Directors have emphasized the importance of strengthening policy buffers and the foundation for faster and more inclusive growth. Directors have also encouraged the authorities to implement their fiscal plans within a medium-term framework and to improve further the quality of public spending to meet Tonga’s development objectives.

Economic Indicators --- Monetary Policy --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Business indicators --- Economic indicators --- Indicators, Business --- Indicators, Economic --- Leading indicators --- Economic history --- Quality of life --- Economic forecasting --- Index numbers (Economics) --- Social indicators --- Debts, External --- Debts, Public --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Debt --- Bonds --- Deficit financing --- Debts, Foreign --- Debts, International --- External debts --- Foreign debts --- International debts --- International finance --- Investments, Foreign --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- Tonga --- Tonga Islands --- Friendly Islands --- Kingdom of Tonga --- Puleʻanga Fakatuʻi ʻo Tonga --- Koningkryk van Tonga --- Tongako Erreinua --- Tongako Erresuma --- Тонга --- Tonha --- Království Tonga --- Kraljevina Tonga --- Königreich Tonga --- Τόνγκα --- Tonnka --- Βασίλειο της Τόνγκα --- Vasileio tēs Tonnka --- Tongo --- Tonga Reĝlando --- Tonga Kuningriik --- Tongan kuningaskunta --- Royaume des Tonga --- Royaume de Tonga --- Reino de Tonga --- Teyrnas Tonga --- Puleʻanga ʻo Tonga --- Government of Tonga --- Puleʻanga Tonga --- Pule ʻAnga Tonga --- Королевство Тонга --- Korolevstvo Tonga --- 汤加 --- Tangjia --- Tang jia --- 汤加王国 --- Tangjia wangguo --- Tang jia wang guo --- Tonqa --- Tonqa Krallığı --- Kongedømmet Tonga --- Kongsríki Tonga --- Ríocht Thonga --- Yn Tongey --- Reeriaght ny Tongey --- Тонhлмудин Нутг --- Tonḣlmudin Nutg --- Kerajaan Tonga --- Тонгæ --- Tongæ --- Тонгæйы Къаролад --- Tongæĭy Kʺarolad --- Konungsríkið Tonga --- Regno di Tonga --- טונגה --- Ṭongah --- ממלכת טונגה --- Mamlekhet Ṭongah --- Economic conditions. --- E-books --- Banks and Banking --- Exports and Imports --- Money and Monetary Policy --- Public Finance --- Statistics --- Macroeconomics --- International Lending and Debt Problems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- National Government Expenditures and Related Policies: General --- Debt Management --- Sovereign Debt --- Remittances --- International economics --- Public finance & taxation --- Monetary economics --- Econometrics & economic statistics --- External debt --- Bank credit --- Expenditure --- Money --- Balance of payments --- Credit --- Expenditures, Public