IMF grants Tonga $10 million emergency loan

Pangaimotu Island, Tonga

The IMF approved a $9.95 million loan to the Pacific island kingdom of Tonga on January 25, as the country struggles with debt problems and the effects of Covid-19.

The loan falls under the Rapid Credit Facility, which provides urgent assistance for countries with short-term balance-of-payments problems.

The fund cited the Covid-19 epidemic and the effects of cyclones in 2018 and 2020 in its rationale for granting the loan.

The fund’s Article IV report, published on February 1, confirms the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: