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Tonga: 2015 Article IV Consultation-Staff Report; and Press Release

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  • International Monetary Fund

Abstract

This 2015 Article IV Consultation highlights that Tonga’s economy is estimated to have grown by about 2 percent in FY2013/14 (year ending June) driven by agriculture and construction, following a contraction in 2012/13 mainly caused by the completion of a large capital project. The external position has strengthened, following large grants and remittance inflows, which have bolstered international reserves. Real GDP growth is expected to average 2–3 percent in FY2014/15–FY2019/20. Although the progress of reconstruction in the aftermath of 2014 Cyclone Ian is slower than expected, the coronation scheduled for July 2015 and preparations for the 2019 South Pacific Games will support economic activity over the next few years.

Suggested Citation

  • International Monetary Fund, 2015. "Tonga: 2015 Article IV Consultation-Staff Report; and Press Release," IMF Staff Country Reports 2015/107, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/107
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    1. repec:zbw:bofitp:2019_024 is not listed on IDEAS
    2. Yin†Wong Cheung & Menzie Chinn & Xin Nong, 2017. "Estimating currency misalignment using the Penn effect: It is not as simple as it looks," International Finance, Wiley Blackwell, vol. 20(3), pages 222-242, December.
    3. Dimitar Gueorguiev & Daniel McDowell & David A. Steinberg, 2020. "The Impact of Economic Coercion on Public Opinion: The Case of US–China Currency Relations," Journal of Conflict Resolution, Peace Science Society (International), vol. 64(9), pages 1555-1583, October.
    4. Barseghyan, Gayane, 2019. "Sanctions and counter-sanctions : What did they do?," BOFIT Discussion Papers 24/2019, Bank of Finland, Institute for Economies in Transition.
    5. Frankel, Jeffrey, 2015. "The Plaza Accord, 30 Years Later," Working Paper Series 15-056, Harvard University, John F. Kennedy School of Government.

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