At its monthly meeting on 27th April 2017, the Reserve Bank of Tonga’s Board maintained its accommodative monetary policy measures; encouraging utilizing of the excess liquidity, increase lending to support economic growth and strengthen monetary policy transmission mechanism.

An International Monetary Fund (IMF) team led by Ms. Elena Loukoianova visited Nuku’alofa from March 22–28, to assess economic developments and discuss government policies. The team met with National Reserve Bank of Tonga (NRBT) Governor Dr. Sione Ngongo Kioa and Minister for Finance and National Planning Honorable Tevita Lavemaau, as well as development partners and private sector representatives.

At its monthly meeting on 29th March 2017, the Reserve Bank of Tonga’s Board maintained its accommodative monetary policy measures; encouraging utilizing of the excess liquidity, increase lending to support economic growth and strengthen monetary policy transmission mechanism.

It has been brought to our attention that there are retail shops in Tonga that provide foreign exchange services to its customers, particularly foreign currency cash conversion without the required license. We are urging the public to please report to the Reserve Bank.

The National Reserve Bank of Tonga’s Board, at its monthly meeting on 3rd March 2017, maintained the current monetary policy measures to encourage the utilisation of the excess liquidity in the banking system, increase lending in order to support economic growth, and strengthen the monetary policy transmission mechanism:

The Reserve Bank has eased its Exchange Control requirements as reflected in the revised Exchange Control Policy Guidelines which the Reserve Bank’s Board of Directors at its meeting on 2nd February 2017 has approved to be effective immediately.

The Reserve Bank’ Board at its meeting on 2nd February 2017 noted that the activities in the domestic economy were generally positive, the real GDP growth estimate for 2016/17 was revised up to 3.6%, the foreign reserves stood at T$378.8 million and 9.8 months of imports, annual inflation at 6.1% and is expected to fall to 4% in the beginning of 2017/18.

The National Reserve Bank of Tonga has received five $50 pa'anga and two $20 pa'anga notes of the new design currency (King Tupou VI series) confirmed to be counterfeit notes.  The Reserve Bank is concerned that there could be more of such $50 and $20 counterfeit notes in circulation.

The National Reserve Bank of Tonga has received three $50 pa'anga notes of the new design currency confirmed to be counterfeit notes. The Reserve Bank is concerned that there could be more of such $50 counterfeit notes in circulation.

The NRBT hosted the MSMEs Workshop on Friday 4th November 2016 to support the development of Micro, Small and Medium Enterprises (MSMEs) sector through improving their access to finance.