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.

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.

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.

At its meeting on 17th August 2018, the National Reserve Bank of Tonga’s board of directors 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 strengthen the monetary policy transmission mechanism.

At its meeting on 31st July 2018, the National Reserve Bank of Tonga’s board of directors 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 strengthen the monetary policy transmission mechanism.

The Supreme Court issued its ruling on 5th July 2018 on the application by the Pacific International Commercial Bank for the judicial review of the decision by the National Reserve Bank of Tonga (NRBT) to revoke the bank license of Pacific International Commercial Bank (PICB) on 26th July 2016.

At its meeting on the 15th June 2018, the National Reserve Bank of Tonga’s board of directors 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 strengthen the monetary policy transmission mechanism.

The National Reserve Bank of Tonga’s board of directors at its meeting on the 16 May 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 strengthen the monetary policy transmission mechanism.

The National Reserve Bank of Tonga’s board of directors at its meeting on the 11th April 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 strengthen the monetary policy transmission mechanism.

The National Reserve Bank of Tonga’s board of directors at its meeting on the 15th March 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 strengthen the monetary policy transmission mechanism.