国际货币基金组织：2025年汤加：关于货币政策框架和NRBT运作现代化的技术援助报告（英文版）

The IMF conducted a Technical Assistance mission to assist the National Reserve Bank of Tonga (NRBT) in modernizing its monetary policy framework. The mission aimed to address persistent challenges such as excess liquidity and an inactive interbank market, which have impeded effective monetary policy transmission. The mission is significant as it builds on previous IMF assistance and addresses key vulnerabilities in Tonga's monetary policy framework. The mission also aligns with ongoing F