Tonga’s economic activity is slowly normalizing following the Hunga Tonga Hunga Haʻapai (HTHH) volcanic eruption and the local outbreak of COVID-19 in early 2022. The authorities’ strong policy response, together with swift humanitarian assistance by the international community, helped keep the economy afloat and protect the vulnerable.

The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 30th of November 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system for further lending to growth sectors and supporting the economic recovery from the impacts of COVID-19.

The Reserve Bank is hereby issuing Directive No. 2 that supersedes Directive No. 1 issued on the 27th November 2020 that the following entities are exempted from the Moneylenders Act.

The National Reserve Bank of Tonga's Board of Directors, at its board meeting on the 11th of November 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system by further lending to growth sectors and supporting the economy from the impacts of COVID-19.

It has come to the notice of the National Reserve Bank of Tonga (NRBT) that a fake website in the name of “Tonga Financial Services Authority” (TFSA) has been created with the URL https://tfsa.to/ by some unknown person(s). 

The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 29th of September 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system by further lending to growth sectors and supporting the economy from the impacts of COVID-19.

As required by section 4(1) of the Foreign Exchange Control Act 2018, the authority to conduct foreign exchange business in Tonga is restricted only to Authorized Persons licensed by the National Reserve Bank of Tonga.

According to the Governor of the Reserve Bank, Sione Ngongo Kioa, the domestic economic activities showed some improvements in May 2021. The primary sector reported higher exports of agricultural products, particularly cassava and taro. Meanwhile, the secondary industry varied with lower lending to the manufacturing and utilities sectors, while lending to the construction sector rose.

As required by section 3(1) of the Moneylenders Act 2018, the authority to conduct moneylending business in Tonga is restricted only to Authorized Persons licensed by the National Reserve Bank of Tonga.

The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 10th of June 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors and to support the economy from the impacts of COVID-19.