The following monetary policy measures are adopted:
To stimulate economic growth and support macroeconomic recovery while continuing to closely monitor developments in inflation, the Reserve Bank will:
- Maintain the monetary policy rate at 0% (zero interest rate policy).
- Maintain the current weights in the Exchange rate basket.
- Maintain the minimum loans/deposit ratio at 70%.
- Maintain the Statutory Reserve Deposit ratio at 10%.
- Maintain the inflation reference rate at 5%.
- Develop an enabling financial infrastructure to support prudent credit growth (credit registry, bankruptcy laws, land administration).
- Explore other tools to encourage higher credit growth (loan guarantee, interest rate subsidy)
- Collaborate with MOF to foster compatibility of fiscal and monetary policy objectives supporting inclusive and sustainable growth.
- Explore ways to strengthen the monetary policy transmission mechanism.
In addition, to maintain a stable sound, and efficient financial system, conducive to macroeconomic stability and growth the Reserve Bank will:
- Enhance financial sector supervision.
- Maintain clear channels of effective communications with the financial institutions to ensure delivery of essential financial services to the public, especially during pandemic-related lockdown periods.
- Modernise and improve the efficiency of the payments system, including by completing the rollout of the Domestic Electronic Payment System (DEPS) for increased automation of the settlement/clearing system.
- Continue to implement measures to combat de-risking by global and local banks in order to retain banks’ correspondent bank accounts and foreign exchange dealers’ bank accounts.
The Governor of the Reserve Bank, Sione Ngongo Kioa, reported that the ongoing supply-side disruptions in the global markets resulting from the Russia-Ukrainian war, the faded pent-up demand, and the withdrawal of substantial policy support continue to put upward pressure on inflation amidst weaker global growth, putting the global economy at risk of stagflation. As an import-dependent economy, the stronger oil, food, and commodity prices will flow on to Tonga’s inflation which can slow down economic recovery and quickly deplete real income. Central Banks including our major trading partner countries have already tightened monetary policies in an attempt to curb inflation.
In April 2022, domestic activities are gradually returning to normal operations following the Covid-19 outbreak in March 2022. The agricultural sector shows a slight recovery from the Hunga Tonga – Hunga Ha’apai (HTHH) disaster earlier in the year, although not as strong as the previous year. Agricultural export volumes rose by 184.5 tonnes attributed to a rise in cassava and Kava Tonga exports in April 2022. The secondary sector anticipates some positive movements from the rollout of the Government reconstruction projects from the HTHH disaster. At the same time, the production cost is also trending up in line with the higher energy prices. The majority of the services sector businesses were able to resume operations in April with some restrictions observed particularly for social distancing. Business container registrations increased by 5.5% depicting a more active trade sector as restrictions ease.
Headline inflation peaked at 9.4% over the year to April which is still above the 5% reference rate. Import prices rose on the back of higher prices of fuels, food items, construction materials, and liquefied petroleum gas. These movements reflect the impacts of the shocks in the global markets from the pandemic and the war, which are beyond the control of the Reserve Bank. Domestic prices also rose due to higher local food items and electricity prices, reflecting the impact of the HTHH disaster on local food supply and the pass-through of imported fuel prices to domestic energy prices. Core inflation (excluding energy and imported food) is at 5.6% indicating that the elevated inflationary pressure is mostly driven by energy prices.
Official foreign reserves rose by $22.6 million during April 2022 to $884.0 million, which is equivalent to 12.6 months of import cover. This is well above the Reserve Banks’ minimum threshold of 3 months, and the IMF’s optimal level of 7.3 months of import cover. In the year to April 2022, foreign reserves increased substantially by $204.4 million. This is mainly attributed to receipts of budget support, relief funds, official grants, capital inflows, and remittances.
The financial system is still sound, supported by strong capital positions, high liquidity, and adequate profitability. Reserve money and broad money expanded over the year by 34.3% and 18.5%, respectively. Meanwhile, credit growth is still negative over the year by 4.4%, while total deposits increased by 17.6% resulting in a lower loans to deposit ratio of 53.9% from 54.6% in March 2022. This is still below the new minimum threshold of 70%. Non-performing loans is slowly climbing to 4.8% of total loans reflecting the impact of the HTHH disaster and the Covid-19 lockdowns on both businesses and households. The weighted average interest rate spread widened over the year, as the weighted average lending rates increased while the weighted average deposit rates declined.
On the outlook, the Reserve Bank projects a contraction in GDP growth for FY 2021/22 as a result of the severe damages from the HTHH volcanic eruption and tsunami in January 2022, and the Omicron outbreak in February 2022. A moderate recovery is projected for FY 2022/23 in line with the anticipated reconstruction works and the re-opening of the international border. Inflation is expected to remain elevated in the near term in line with the rising global prices, before easing below the 5% reference rate by early 2023 as supply-side disruptions dissipate and the domestic economy recovers from the impacts of the HTHH disaster. The financial system is expected to remain sound with adequate capital to absorb any shocks to the system.
Against the background of stagnant economic growth and high inflation, the Reserve Bank considers its current accommodative monetary policy stance appropriate at this time to work in tandem with the fiscal policies in reviving the economy and preventing any further contraction in growth. This includes exploring measures to utilise the excess liquidity in the banking system. With regards to inflation, the Reserve Bank notes that these pressures are supply-driven and are beyond its control. Our major trading partner countries are already fighting inflation through the tightening of their monetary policies which will flow through in import prices to Tonga’s inflation. Meanwhile, the Reserve Bank continues to engage in discussions on measures to curb inflation and address domestic food inflation.
Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga
Na‘e tali ‘e he Poate ‘a e kau Talēkita ‘o e Pangikē Pule Fakafonua ‘o Tonga´ ‘i he ‘enau fakataha ‘i he ‘aho 30 ‘o Sune 2022, ke kei hoko atu pē ‘a e ngaahi fokotu’utu’u ngāue fakapa‘anga lolotonga´ ‘o ngāue fakataha mo e Pule‘anga´ ke poupou‘i hono fakaakeake ‘a e ‘ekonōmika´ mo e tupu faka’ekonōmika fakalūkufua´. Ko e ngaahi fokotu’utu’u ngāue fakapa‘anga eni ‘oku ngāue’aki´:
Ke faka’ai’ai ‘a e tupu faka’ekonōmika´ mo hono poupou’i ‘a e fakaakeake fakalukufua faka’ekonōmika´, kae kei muimui’i ofi ‘a e ngaahi fakalakalaka felāve’i mo e hikihiki ‘a e totongi koloa´, ‘e fakahoko ‘e he Pangikē Pule´ ‘a e ngaahi fokotu’utu’u ngāue ko´ eni:
- Hoko atu pē ‘a e ta’etotongi tupu (zero interest rate) ‘i he ngaahi ‘akauni pa‘anga ngāue ‘a e ngaahi pangikee´ (Exchange Settlement Account) ‘oku fakahū ‘i he Pangikē Pule´.
- Tu‘uma‘u pē ‘a e ngaahi fa’unga lolotonga ki he fakafetongi pa‘anga muli´.
- Ke ‘oua ‘e toe ma‘ulalo hifo ‘i he peseti ‘e 70 ‘a e lahi e ngaahi nō ‘oku tuku atu ‘e he ngaahi pangikee´ ‘o fakahoa ki he lahi ‘o ‘enau ngaahi fakahū pa‘anga´ (loans/deposit ratio).
- Tu’uma’u ‘i he peseti ‘e 10 ‘a e lahi ‘o e pa‘anga ‘a e ngaahi pangikē fakakomēsiale´, ‘a ia ‘oku tu‘utu‘uni fakalao ke tauhi ‘i he Pangikē Pule´ (Statutory Reserve Deposit).
- Tauhi pē ‘a e tu‘unga ‘oku faka’amu ke ‘i ai ‘a e hikihiki ‘i he totongi koloa´ (inflation reference rate) ‘i he peseti ‘e 5´.
- Hoko atu ‘a e ngāue ke fokotu’u ha fa‘unga fakapa‘anga ‘e tokoni ki he tupu ‘a e ngaahi noo´ ‘i ha founga ’oku malu (fokotu’u ‘o ha kautaha ki hono tānaki e fakamatala nō, lao ki he ngaahi kautaha ‘oku ‘ikai ke lava totongi fakafoki honau ngaahi mo‘ua´, pea fakalelei’i e ngaahi ngāue fakakelekele´).
- Fekumi ki ha ngaahi me’angāue makehe ke tokoni ki he tupu ‘a e ngaahi noo´ (fokotu’u ‘o ha polokalama ke tokoni ki hono malu‘i ‘a e ngaahi noo´, pe ko ha tokoni ki hono holoki ‘a e ngaahi totongi tupu´)
- Fengāue’aki vāofi mo e Potungāue Pa’anga´ koe’uhi´ ke fenāpasi ‘a e ngaahi fokotu’utu’u ngāue ‘a e Pule’anga´ mo e ngaahi taumu’a ngāue ‘a e fokotu’utu’u ngāue fakapa’anga´, ‘o poupou ki hono langa hake ha tupu faka’ekonōmika ‘oku kakato mo tu’uloa.n.Fekumi ki ha ngaahi founga te ne fakamālohi’i ange ‘a hono fakahoko ‘o e ngaahi fokotu’utu’u ngāue fakapa’anga´.
‘Ikai ke ngata ai´, kā ko hono tauhi ‘a e ma’uma’uluta, malu mo e lelei ‘a e tafa’aki fakapa’anga´ ‘o kaunga lelei ki he ma’uma’uluta mo e tupu faka‘ekonōmika fakalukufua´, ‘e ngāue atu ‘a e Pangikē Pule´ ki he ngaahi me’a ko´eni:
- Fakamālohia ‘a e tafa‘aki ‘oku nau tokanga‘i ‘a e ngaahi kautaha fakapa‘anga´.
- Tauhi ‘a e fetu’utaki vāofi mo e ngaahi kautaha fakapa’anga´ ke fakapapau’i ‘oku malava ke fakahoko honau ngaahi fatongia ki he fonua΄, tautautefito ki he ngaahi taimi fakataputapui fakalotofonua koe’uhi΄ ko e mafola ‘a e mahaki fakamāmāni lahi΄.
- Ngāue’aki e ngaahi tekinolosia fakaonopooni΄ ke fakalelei’i ‘a hono fakalele e sisitemi totongi pa’anga΄, ‘o kau ai ‘a e fakakakato hono fokotu’u e Sisitemi Totongi Pa’anga Fakalotofonua΄ (DEPS) ke ngāue’aki ‘a e tekinolosia΄ ki hono fakahoko ‘a e totongi mo e fakafetongi pa‘anga΄.
- Hokohoko atu e ngāue ke fakasi’isi’i hono tāpuni ‘e he ngaahi pangikē muli΄ ‘a e ngaahi ‘akauni ‘a e ngaahi pangikē fakalotofonua΄, pehē ki hono tāpuni ‘e he ngaahi pangikē fakalotofonua΄ mo muli foki ‘a e ‘akauni ‘a e ngaahi kautaha fakafetongi pa’anga muli΄.
Na’e lipooti ‘e he Kōvana ‘o e Pangikē Pule´, Sione Ngongo Kioa, ‘oku kei hoko atu pē ‘a hono uesia ‘e he tau ‘a Lūsia mo ‘Iukuleini´ ‘a e ngaahi fakatupu mo e fe’ave’aki koloa´ ‘i he ngaahi māketi fakamāmani lahi´. ‘Oku kamata foki ke holo hifo ‘a e fiema‘u koloa´ mei he’ene kaka vave´, pea to’o mo e ngaahi tokoni fakapa‘anga ‘a e ngaahi pule’anga´ ki he ‘ekonōmika´. ‘Oku fakatupu leva heni ‘a e hiki ma‘olunga ‘a e ngaahi totongi koloa´ lolotonga e taimi ‘oku vaivai ai ‘a e tupu faka‘ekonōmika fakamāmani lahi´. ‘I he’ene pehee´, ‘oku ‘i ai e tokanga na’a lōloa atu ‘a e nofo ‘a e ‘ekonōmika fakamāmani lahi´ ‘i he tu’unga ko eni´ pea ‘i ai ha toe ngaahi uesia kehe. Koe’uhi΄ ko e fakafalala ‘a Tonga ‘i he ngaahi koloa hū mai mei muli΄, ‘e tafe mai ai pē ‘a e hiki ‘a e totongi lolo´, totongi koloa me’akai´, mo e totongi ‘o e ngaahi koloa lalahi ‘oku fefakatau’aki fakavaha’apule’anga´, ki he tu’unga hikihiki ‘a e totongi koloa ‘i Tonga´ ni pea ‘e malava ke fakatuai’i ‘a e fakaakeake faka‘ekonōmika´ mo holoki vave ‘a e mahu’inga totonu ‘o e pa‘anga hū mai´. Kuo fakamalohi‘i ‘e he ngaahi Pangikē Pule tokolahi ‘o kau ai hotau ngaahi fonua hoa fefakatau‘aki lalahi´ ‘enau ngaahi fokotu‘utu‘u ngāue fakapa‘anga´ ke tau’i ‘aki ‘a e hikihiki ‘i he totongi koloa´.
‘I he māhina ‘Epeleli 2022, na‘e foki māmālie ‘a e ngaahi ngāue faka‘ekonōmika fakalotofonua´ ki he tu’unga angamaheni´ hili ‘a e mafola fakalotofonua ‘a e Koviti-19 ‘i Ma’asi 2022´. Na‘e hā mai ‘a e ki’i kake ‘a e ola ‘i he sekitoa ngoue´ hili ‘a e fakatamaki Hunga Tonga – Hunga Ha‘apai (HTHH) ‘i he kamata‘anga ‘o e ta‘u´, neongo ‘oku ‘ikai ke a’u ia ki he tu’unga mālohi na’e ‘i ai he taimi tatau ‘o ta‘u kuo‘osi´. Na′e hiki hake ‘a e lahi ‘o e ngoue na’e uta ki muli´ ‘aki ‘a e toni ‘e 184.5 ‘i ‘Epeleli 2022, makatu‘unga mei he lahi ange hono uta atu ‘o e manioke´ mo e Kava Tonga´. ‘Oku ‘amanaki ‘e hā mai ha ngaahi ola lelei mei he sekitoa fakatupu koloa´ koe’uhi´ ko e kamata ‘a e ngaahi polōseki langa fakaakeake ‘a e Pule‘anga´ mei he fakatamaki HTHH´. Kā ‘i he taimi tatau, ‘oku kaka ki ‘olunga ‘a e fakamole ki he fakatupu koloa´ fakataha mo e hiki ‘a e totongi ‘o e ngaahi ma’u’anga ivi´. Ko e konga lahi ‘o e ngaahi pisinisi ‘i he sekitoa ki he ngaahi ngāue´, ne malava ke nau foki ‘o hoko atu ‘enau fakahoko fatongia ‘i ‘Epeleli, neongo ‘a e kei fiema’u ke tauhi ‘a e ngaahi fakataputapui´ ‘o hangē ko e tauhi ‘a e vāmama‘o´. Na’e kake ‘a e lēsisita ‘o e ngaahi koniteina fakapisinisi mei muli´ ‘aki ‘a e peseti ‘e 5.5 ‘a ia ‘oku ngali longomo’ui ange ‘a e ngaahi ngāue fefakatau‘aki´ tupu mei hono fakasi‘isi‘i atu ‘a e ngaahi fakataputapui´.
‘I he ta’u ki ‘Epeleli 2022´, na’e a’u ‘a e hiki e totongi koloa΄ ki he tu‘unga ma‘olunga ko e peseti ‘e 9.4, ‘a ia ‘oku kei ma’olunga pē ‘i he tu‘unga fe’unga ‘oku fai ki ai e faka’amu´ ko e peseti ‘e 5. Ne hiki ‘a e totongi koloa hū mai mei muli´ makatu‘unga ‘i he ma’olunga ange ‘a e ngaahi totongi ‘o e koloa lolo´, koloa me‘akai´, koloa naunau langa´, pea mo e kasa´. ‘Oku ‘ilonga heni ‘a e uesia ‘a e māketi fakamāmani lahi´ mei he mafola ‘a e mahaki fakamāmani lahi΄ pea mo e tau΄, ‘a ia ‘oku ‘i tu‘a ia ‘i he mafai ‘o e Pangikē Pule΄. Ko e hikihiki ‘a e totongi koloa fakalotofonua΄ ne kau ki ai ‘a e koloa me‘akai΄, mo e ‘uhila΄ ‘o makatu‘unga mei hono uesia ‘e he fakatamaki HTHH΄ ‘a e me’akai fakalotofonua΄, pea mo e hū hangatonu ‘a e hiki ‘a e totongi ‘o e lolo hū mai΄ ki he totongi lolo fakalotofonua΄. Ko e tu’unga ‘o e hikihikihi ‘a e ngaahi totongi koloa tefito´ (core inflation) na‘e peseti pē ‘e 5.6 (‘a ia koe hili ia hono to’o ‘a e ngaahi totongi koloa lolo΄, ‘uhila΄, mo e kasa΄, mo e totongi ‘o e ngaahi koloa me’akai hū mai mei muli΄), ‘a ia ‘oku mahino mei heni ko e totongi lolo΄ ‘oku fakatefito mei ai ‘a e hikihiki ‘o e totongi koloa΄.
Na’e hiki ‘a e pa‘anga talifaki ‘i muli ‘a e fonua´ (foreign reserves) ‘i he māhina ‘o ‘Epeleli 2022΄ ki he $884.0 miliona, ‘o fe’unga ia mo e māhina ‘e 12.6 ‘o e ngaahi koloa mo e ngāue hū mai´. ‘Oku ma’olunga eni ‘i he tu‘unga fe‘unga ‘oku siofi ‘e he Pangikē Pule´ ko e māhina ‘e 3 ‘o e koloa mo e ngāue hū mai´, pea mo e tu’unga fe’unga ‘oku fakafuofua’i ‘e he Kautaha Pa‘anga Fakavaha‘apule‘anga΄ (IMF) ko e māhina ‘e 7.3. ‘I he ta‘u´ ki ‘Epeleli 2022´, na‘e toe kake lahi pē ‘a e tu‘unga ‘o e pa‘anga talifaki ‘i muli´ ‘aki ‘a e $204.4 miliona, makatu‘unga mei he lahi ange ‘a e ngaahi tokoni fakapa’anga ki he patiseti ‘a e Pule’anga´, ngaahi tokoni ki he ngaahi fakatamaki´, ngaahi polōseki ‘a e Pule’anga΄, pea mo e ngaahi talafi pa’anga taautaha mei he ngaahi famili ‘i muli´.
‘Oku kei malu pē ‘a e tafa’aki fakapa’anga´, ‘o poupou ki ai ‘a e ma’olunga e pa‘anga tefito (capital) mo e pa’anga ngāue (liquidity) ‘a e ngaahi pangikee´, pea kei ma’u pē mo e tupu fakapa‘anga (profitability) fe‘unga. Na‘e kake fakatou‘osi ‘a e pa‘anga fakalūkufua ‘a e fonua´ (broad money) pea mo e pa‘anga ngāue ‘a e ngaahi pangikee´ ‘i he ta‘u´ ‘aki ‘a e peseti ‘e 34.3 mo e peseti ‘e 18.5. ‘I he taimi tatau, na‘e holo ‘a e ngaahi nō ne tuku atu΄ ‘aki ‘a e peseti ‘e 4.4, kae hiki ‘a e fakahū pa‘anga΄ ‘aki ‘a e peseti ‘e 17.6, ‘o holo ai ‘a e lahi ‘o e ngaahi nō ne tuku atu´ ‘i hono fakahoa ki he lahi ‘o e fakahū pa‘anga´ (loans/deposit ratio) ki he peseti ‘e 53.9, mei he peseti ‘e 54.6 ‘i Ma‘asi 2022´. ‘Oku kei ma‘ulalo pē eni ‘i he tu’unga ma’ulalo taha ‘oku tu’utu’uni’i´ ‘a ia ko e peseti ‘e 70. ‘Oku kake māmālie hake foki ‘a e ngaahi nō palopalema´ ki he peseti ‘e 4.8 ‘o e fakalukufua ‘o e ngaahi nō, ‘o hā mei ai ‘a hono uesia ‘e he fakatamaki HTHH´ pea mo e ngaahi tātāpuni fakafonua tupu mei he mafola ‘a e Koviti-19´, ‘a e ngaahi pisinisi΄ mo e ngaahi ‘api taautaha΄. Na‘e kake foki e ‘avalisi ‘o e hulu ‘i he totongi tupu ‘i he nō mo e fakahū pa‘anga´ (weighted average interest rate spread) ‘i he ta‘u΄, koe‘uhi΄ ko e kake ‘a e ‘avalisi ‘o e totongi tupu ‘i he nō kae holo ‘a e ‘avalisi ‘o e totongi tupu ‘i he fakahū pa‘anga΄.
‘I he vakai ki he kaha’u΄, ‘oku fakafuofua ‘e he Pangikē Pule΄ ‘e holo ‘a e tu‘unga faka‘ekonōmika ‘a e fonua΄ ‘i he ta’u fakapa’anga 2021-22´ tupu mei he ngaahi maumau ‘i he puna ‘a e mo‘ungaafi HTHH pea mo e peau kula ne hoko ‘i Sanuali 2022´, pehē ki he mafola ‘a e ‘Omikoloni΄ ‘i Fepueli 2022. ‘Oku fakafuofua ‘e kake māmālie ‘a e tupu faka’ekonōmika´ ‘i he ta’u fakapa’anga 2022-23΄, makatu’unga ‘i he ngaahi ngāue langa fakaakeake mei he ngaahi fakatamaki΄ mo hono fakaava ‘o e kau’āfonua΄. ‘Oku ‘amanaki ‘e hokohoko atu pē ‘a e ma’olunga ‘a e hikihiki ‘a e totongi koloa΄ ‘i he kaha‘u vave mai΄ koe‘uhi΄ ko e kei hikihiki ‘a e totongi koloa fakamāmani lahi΄, pea ke toki holo ki he tu‘unga fe‘unga ‘oku faka’amu ke ‘i ai΄ ko e peseti ‘e 5 ‘i he konga kimu‘a ‘o e 2023΄. ‘Oku fakatefito ‘a e fakafuofua ko΄ eni ‘i he ‘amanaki ‘e holo ‘a e ngaahi uesia ki he fakatupu mo e fe’ave’aki koloa fakamāmani lahi΄, pea fakaakeake mo e ‘ekonōmika fakalotofonua΄ mei he ngaahi uesia ‘o e fakatamaki HTHH΄. ‘Oku fakafuofua foki ‘e malu pē ‘a e tafa’aki fakapa‘anga΄ pea fe‘unga pē mo e ngaahi pa‘anga tefito ‘a e ngaahi pangikee´ ke matu’uaki ha fakatamaki ‘e ala hoko.
Makatu‘unga ‘i he vaivai ‘a e tupu faka‘ekonōmika΄ kae ma‘olunga ‘a e hikihiki e totongi koloa΄, ‘oku tauhi pē ‘e he Pangikē Pule΄ ‘ene fokotu’utu’u ngāue fakapa’anga lolotonga΄ kae fengāue‘aki vāofi mo e ngaahi fokotu‘utu‘u ngāue ‘a e Pule‘anga´ ki hono fakaakeake ‘a e tupu faka‘ekonōmika΄ mo ta’ota’ofi ha toe ngaahi uesia tamaki ‘e ala hoko. ‘Oku kau ki ai mo e fekumi ki ha ngaahi founga ‘e malava ke ngāue‘aki ‘a e hulu ‘i he pa‘anga ngāue ‘a e ngaahi pangikee′. ‘I he vakai ki he hikihiki ma’olunga ‘a e totongi koloa΄, ‘oku fakatokanga’i ‘e he Pangikē Pule΄ ‘oku fakatupu ia ‘e he ngaahi fetō’aki ‘i he fakatupu mo e fe’ave’aki koloa fakamāmani lahi΄ ‘a ia ‘oku ‘i tu’a ia ‘i he mafai ‘o e Pangikē Pule΄. Kaekehe, ‘oku lolotonga ngāue ‘a hotau ngaahi hoa fefakatau’aki lalahi΄ ki hono tau’i e hikihiki ‘a e totongi koloa΄ ‘aki ‘enau ngaahi fokotu’utu’u ngāue fakapa’anga΄, pea ‘e hū mai ia ki he totongi koloa fakalukufua ‘a Tonga΄ ni ‘i he ngaahi koloa hū mai΄. ’I he taimi tatau, ‘oku hoko atu pē ‘a e ngaahi fealea’aki ‘a e Pangikē Pule΄ ki ha ngaahi founga ‘e malava ke ta‘ota‘ofi ‘aki ‘a e hiki ‘a e totongi koloa fakalukufua΄ mo fakasi‘isi‘i ‘a e hikihiki ‘i he totongi ‘o e me‘akai fakalotofonua΄.
