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Tonga - Second Resilience Development Policy Operation (英语)

The development objectives and pillars of the Second Resilience Development Policy Operation in Tonga support the Government of Tonga to: (i) strengthen public finances; (ii) enhance resilience to climate change, natural disasters, and health-related risks; and (iii) support economic recovery and improved labor market outcomes. Pillar 1 supports adoption of a new medium-term debt management strategy (MTDS), a policy on government guarantees, and tighter controls on public-sector wage bill spending. Pillar 2 supports the rollout of the COVID-19 vaccine, national disaster risk management legislation and a national disaster risk financing policy. Pillar 3 supports reforms to strengthen labor mobility and financial sector stability, and the adoption of the nation’s first public service sector sexual harassment policy. The reform program builds on and deepens reforms supported by the first development policy operation (DPO) in the series and the standalone ‘Dual Shocks’ DPO. The program represents a continuation of reform regarding fiscal sustainability, climate and disaster resilience, employment opportunities, and financial sector development. The hybrid structure of the operation is appropriate for Tonga, given the importance of reforms that increase resilience to shocks, and the need for financing that disburses quickly following a natural disaster or public health emergency.

详细

  • 文件日期

    2021/10/28

  • 文件类型

    计划文件

  • 报告号

    PGD298

  • 卷号

    1

  • Total Volume(s)

    1

  • 国家

    汤加,

  • 地区

    东亚与太平洋区,

  • 发布日期

    2021/11/24

  • Disclosure Status

    Disclosed

  • Board Meeting Date

    2021-11-24T00:00:00Z

  • 文件名称

    Tonga - Second Resilience Development Policy Operation

  • 关键词

    Combating the Financing of Terrorism; domestic revenue; Gender-Based Violence; natural disaster; resilience to climate change; Household Income and Expenditure Survey; macroeconomic policy framework; current account deficit; real effective exchange rate; Deferred Drawdown Option; projection period; prudent fiscal management; economic recovery; tourism; Occupational health and safety; Senior Financial Management Specialist; Technical and Vocational Education; Grievance Redress Service; Public and Publicly Guaranteed; Drivers of Economic Growth; poverty and social impact; income generating activity; income-generating activity; Human Development and Gender; Wage Bill; tourism receipts; advance market commitment; high quality of life; grace period; border closure; goods export; budget support; repair and reconstruction; health sector spending; public sector debt; Public Health Emergency; Exchange Rates; exchange rate peg; temporary worker program; risk of debt; per capita term; labor market outcome; Social Protection; public debt; reconstruction activities; current expenditure; Fiscal Sustainability; eligible population; development partner; monetary policy; debt relief package; provision of liquidity; disaster risk management; public sector specialist; external debt service; private sector tourism; senior procurement specialist; senior finance officer; major trading partners; external public debt; Public Sector Remuneration; public external debt; total public debt; result indicator; sexual harassment complaints; long-term climate change; Disaster Risk Reduction; world health organization; level of remittance; maintenance of infrastructure; ratio of revenues; labor force participation; access to grant; human resource management; grievance redress mechanism; local health systems; tax on income; private sector entities; civil society group; impact on tourism; trade and investment; international good practice; fiscal reform program; lack of competition; summary of risks; labor market opportunities; central business district; cost of production; financial sector regulation; balance of payment; risk reduction investments; debt management strategy; disaster risk financing; financial sector stability; public service sector; sexual harassment policy; financial sector development; international arrivals; Public Infrastructure; domestic debt; travel restriction; net remittance; agriculture production; fiscal surplus; external borrowing; debt dynamic; fiscal adjustment; recent years; natural hazard; banking system; public finance; international reserve; present value; deposit ratio; grant financing; fiscal deficit; international travel; capital spending; good governance; agriculture sector; tongan pa'anga; cold chain; credit term; foreign reserve; nominal anchor; fuel price; global food; output gap; climate resilience; repayment period; labor mobility; Financial Stability; storm surge; emergency management; fiscal balance; vaccine supply; annual reporting; tourism sector; external account; capital grant

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