Tonga: 2002 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tonga

February 27, 2003

Preview Citation

Format: Chicago

Tonga: 2002 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tonga, (USA: International Monetary Fund, 2003) accessed November 25, 2024

Summary

This 2002 Article IV Consultation highlights that the economic activity in Tonga rebounded modestly in 2001/02, as real GDP growth accelerated from about ½ percent in 2000/01 (fiscal year July–June) to 1½ percent in 2001/02. Conditions in agriculture improved owing to record-high prices for squash and vanilla. Construction rebounded sharply with the assistance provided by the international community to rebuild structures destroyed by Cyclone Waka. Tourism and the service sector have been sluggish during most of the past two years.

Subject: Budget planning and preparation, Central banks, Credit, Economic sectors, International reserves, Public enterprises, Public financial management (PFM), Public sector, Revenue administration

Keywords: Budget planning and preparation, CR, Economy, Fiscal policy, Global, Government, Government's function, International reserves, ISCR, Monetary policy stability, Pacific Islands, Public enterprises, Public sector, Public sector reform programs, Sound fiscal policy, Tonga authorities, Tongan authorities

Publication Details

Pages:

51
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/036
Stock No:

1TONEA0012003
ISBN:

9781451837438
ISSN:

1934-7685

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