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

Tongaâ€™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.

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Year of publication:	2006-06-28
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Article IV consultation reports \| Debt sustainability analysis \| Credit policy \| Economic indicators \| Economic reforms \| debt service \| public debt \| external debt \| current account \| debt sustainability \| central bank \| capital expenditure \| domestic financing \| balance of payments \| fiscal policy \| reserve bank \| external public debt \| debt stock \| public sector debt \| debt relief \| external financing \| fiscal adjustment \| fiscal deficit \| current account balance \| fiscal data \| fiscal balance \| public and publicly guaranteed \| tax administration \| fiscal implications \| primary deficit \| current account deficit \| debt dynamics \| tax reform \| reserve assets \| repayments \| tax system \| fiscal revenue \| tax revenue \| fiscal discipline \| domestic debt \| external borrowing \| fiscal reforms \| expenditure cuts \| debt ratio \| taxation \| budgetary funds \| sustainable fiscal policy \| debt data \| fiscal position \| public expenditure \| domestic public debt \| external debt sustainability \| fiscal outlook \| debt problems \| external debt data \| domestic currency \| debt ratios \| aggregate budget \| tax base \| tax compliance \| fiscal surplus \| loan disbursements \| debt service projections \| fiscal measures \| expenditure restraint \| fiscal deficits \| short-term debt \| fiscal projections \| general resources account \| fiscal resources \| fiscal framework \| external finance \| private external debt \| private sector debt \| revenue collection \| public sector management \| currency debt \| fiscal sustainability \| primary fiscal balance \| public external debt \| net present value of debt \| ppg debt \| sustainable fiscal adjustment \| tax policy \| tax reforms \| external disbursements \| long-term debt \| tax collection \| public sector borrowing \| annual budget \| net debt \| fiscal debt \| fiscal impact \| budgetary implications \| debt thresholds \| debt burden

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 06/241 5 pages long
Source:	RePEc - Research Papers in Economics

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