The risk of debt distress rating for Tonga remains high. Before the pandemic, Tonga’s indebtedness gradually declined from FY20152 to FY2019 owing to much-needed fiscal consolidation efforts. Since 2020, however, the economy has been hit by multiple shocks, including the COVID-19 pandemic, tropical cyclone Harold in April 2020, and the volcanic eruption in January 2022. Against this backdrop, the public debt-to GDP ratio rose in 2020 and 2021, reflecting...
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2022/07/01
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Relatório da Diretoria Executiva
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174555
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1
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2022/07/28
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Disclosed
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Tonga - Joint World Bank-IMF Debt Sustainability Analysis
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