Tonga : 2006 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

1TONEA2006001 Image
Price:  $15.00

Release Date: © June, 2006
ISBN : 978-1-45183-746-9
Stock #: 1TONEA2006001
English
Stock Status: On back-order

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Description

Tonga’s economy has become increasingly vulnerable. Fiscal discipline has weakened, undermining macroeconomic stability and external viability. Medium-term prospects have deteriorated. Moreover, there are other serious downside risks to the fiscal outlook. Further monetary tightening in response to the wage settlement and the full flexibility of the exchange rate system are required. A larger and more dynamic private sector offering alternative employment opportunities would facilitate the downsizing of the public sector. There is a need to improve the reliability, coverage, and timeliness of statistics.

Taxonomy

Economic policy , Exchange rate policy , Fiscal policy , Foreign exchange , Monetary policy




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