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Cover IMF Working Papers
Tracking Trade from Space: An Application to Pacific Island Countries
Mr. Serkan Arslanalp, Mr. Robin Koepke, and Jasper Verschuur
This paper proposes an easy-to-follow approach to track merchandise trade using vessel data and applies it to Pacific island countries. Pacific islands rely heavily on imports and maritime transport for trade. They are also highly vulnerable to climate change and natural disasters that pose risks to ports and supply chains. Using satellite-based vessel tracking data from the UN Global Platform, we construct daily indicators of port and trade activity for Pacific island countries. The algorithm significantly advances estimation techniques of previous studies, particularly by employing ways to overcome challenges with the estimation of cargo payloads, using detailed information on shipping liner schedules to validate port calls, and applying country-specific information to define port boundaries. The approach can complement and help fill gaps in official data, provide early warning signs of turning points in economic activity, and assist policymakers and international organizations to monitor and provide timely responses to shocks (e.g., COVID-19).
Keywords:
Merchandise trade Data; I. Pacific island; liner shipping connectivity index; Merchandise import; supply disruption; Imports; Natural disasters; COVID-19; Trade balance; Tourism; Pacific Islands; Global; port boundary; port call; vessel data
Cover IMF Staff Country Reports
IMF Executive Board Approves a US$9.95 Million Disbursement to Tonga
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Cover IMF Staff Country Reports
IMF Executive Board Concludes 2020 Article IV Consultation with Tonga
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Keywords:
Tonga authorities; peak tourism season; household debt; import dependence; financial support; COVID-19; Global
Cover IMF Staff Country Reports
Tonga: 2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga
International Monetary Fund. Asia and Pacific Dept
Tonga’s recovery following the devastation of the 2018 Cyclone Gita has been derailed by a double blow from the pandemic and Cyclone Harold. FY2020 GDP growth is estimated to fall to -2½ percent due to domestic containment measures, a sudden stop in tourism, and investment delays. The full brunt of the pandemic will be felt in FY2021 (beginning July) during peak tourism season, when a deeper contraction is expected. A worse outcome was avoided by early actions to close external borders—which has kept Tonga COVID-19-free—and prompt economic support. Beyond FY2021, the recovery is expected to resume in line with the global recovery, but the magnitude and trajectory is uncertain.
Keywords:
budget financing; growth potential; disbursement of SDR; meet fiscal; Executive Board's discussion; COVID-19; Natural disasters; Remittances; Global; Pacific Islands; Asia and Pacific
Cover IMF Staff Country Reports
Statement by Ms. Mahasandana, Executive Director, and Mr. Mochtar, Alternate Executive Director, on Tonga January 25, 2021
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Keywords:
donor support; support measure; liquidity support; Tongan authorities; RCF disbursement; COVID-19; Global; headline inflation; remittance inflow
Cover IMF Staff Country Reports
Tonga: 2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility—Press Release; Staff Report; and Statement by the Executive Director for Tonga
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Keywords:
Tonga authorities; peak tourism season; IMF staff estimate; growth potential; policy reform effort; COVID-19; Natural disasters; Global; export share
Cover IMF Staff Country Reports
Tonga: Staff Report for the 2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility—Debt Sustainability Analysis
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Keywords:
GDP deflator; debt obligation; debt-carrying capacity; output level; debt ratio; Debt sustainability analysis; Debt sustainability; debt repayment; export shock
Cover IMF Staff Country Reports
Tonga: Staff Report for the 2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility — Informational Annex
International Monetary Fund. Asia and Pacific Dept

2020 Article IV Consultation and Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Tonga

Keywords:
aid revenue datum; financial asset; PFTAC mission; price Statistics; IMF's Statistics Department; External sector statistics; Balance of payments statistics; Exchange rate arrangements; Financial statistics
Cover IMF Staff Country Reports
Tonga: Technical Assistance Report-Climate Change Policy Assessment
International Monetary Fund. Fiscal Affairs Dept.