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The following discussion should be read in conjunction with our financial
statements and the related notes included in Item 8, Financial Statements and
Supplementary Data in this Annual Report on. | March 31, 2023 ....

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IMF Concludes 2022 Article IV Consultation with Tonga

IMF Concludes 2022 Article IV Consultation with Tonga
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ZIMRA beat revenue target in Q4

ZIMRA beat revenue target in Q4
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IMF Executive Board Concludes 2020 Article IV Consultation with Tonga

Date Time
IMF Executive Board Concludes 2020 Article IV Consultation with Tonga
Washington, DC: On January 25, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Tonga.
Tonga’s slow recovery from the devastating 2018 Tropical Cyclone Gita has been derailed by twin shocks from the Covid-19 pandemic and Cyclone Harold. Proactive and timely actions, including the early closure of external borders and prompt economic support, have helped avoid a worse economic outcome and there are no recorded COVID-19 cases in Tonga to date. Nevertheless, FY2020 GDP (ending June 2020) is expected to contract by 2½ percent, followed by a further contraction of 3½ percent in FY2021, as Tonga’s peak tourism season gets underway while borders remain closed and reconstruction efforts continue to be delayed. The latter has led to record high international reserves as delayed aid-spending resulted in import compression. Never ....

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