Latest News
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Foreign Reserves rose by $5.1 million over October
12 November 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $5.1 million over the month of October 2018 to $457.3 million, equivalent to 7.3 months of imports. |
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Foreign Exchange Control Directive effective 1st November 2018
8 November 2018
To implement the requirements of the Foreign Exchange Control Act 2018, the Reserve Bank in accordance with sections 6(2) and 32 of the Foreign Exchange Control Act 2018, prescribes the exchange control requirements in a
Directive referred to as the Exchange Control Directive. |
| - Also read in Tongan |
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Statement by IMF Deputy Managing Director Tao Zhang on His Visit to the Kingdom of Tonga
18 October 2018
Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), visited the Kingdom of Tonga between October 16-18, 2018, where he met with Prime Minister Hon. Samuela ‘Akilisi Pohiva, Minister of Commerce, Consumer, Trade, Innovation and Labor Hon. Dr. Tevita Tu’i Uata, National Reserve Bank Governor Sione Ngongo Kioa, senior officials, members of the diplomatic community and non-government organizations in Nuku’alofa. |
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Reserve Bank recorded a $22.8 million decline of the Foreign Reserves
9 October 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $22.8 million over the month of September 2018 to $452.2 million, equivalent to 7.3 months of imports. The commencement of the principal repayment to the ExportImport (EXIM) Bank of China contributed to this decline. |
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IMF PFTAC youth Facebook Photography Competition
3 October 2018
The Pacific Financial Technical Assistance Centre is celebrating its 25th anniversary on December 6 & 7, 2018 in Fiji and the International Monetary Fund is running a youth photo contest to showcase Economic Growth and Resillience in the Pacific Island Countries. Submit your photos now! Competition ends October 29th 2018. |
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Monetary Policy Decision - September 2018
21 September 2018
The National Reserve Bank of Tonga’s board of directors at its meeting on the 18th September 2018 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth and the recovery from Tropical Cyclone Gita, and strengthen the monetary policy transmission mechanism. |
| - Also read in Tongan |
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Monetary Policy Statement - February 2018
19 September 2018
At its meeting on the 18th September 2018, the National Reserve Bank of Tonga’s Board of Directors approved to release its Monetary Policy Statement (MPS) for February 2018. This Statement reviews Tonga’s economic growth and the Reserve Bank’s conduct of monetary policy in the six months to February 2018 and its outlook. |
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Foreign Reserves recorded a $1.5 million over August 2018
11 September 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $1.5 million over the month of August 2018 to $475.0 million, equivalent to 7.7 months of imports. Over the past year, the official foreign reserves rose by $70 million. The annual growth was mainly attributed to receipts of budgetary support, grants and cyclone relief funds from development partners and higher remittances during the year. |
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New Foreign Exchange Control Act 2018 comes into force on 10th July 2018
6 September 2018
To ensure Tonga’s macroeconomic stability, the country’s level of foreign exchange reserves must be sufficient at all times to pay for our overseas payment obligations (such as payment of imports, loan repayments and other foreign obligations).
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| - Also read in Tongan |
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Monetary Policy Decision - August 2018
21 August 2018
The National Reserve Bank of Tonga’s board of directors at its meeting on the 17th August 2018 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth and the recovery from Tropical Cyclone Gita, and strengthen the monetary policy transmission mechanism.
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| - Also read in Tongan |
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Foreign Reserves increased by $7.8 million over July
13 August 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) increased by $7.8 million over the month of July 2018 to $476.5 million, equivalent to 7.9 months of imports. Over the past year, the official foreign reserves rose by $67.6 million. |
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