On Monday 10th October, 2022 at Washington, D.C., U.S.A. the Prime Minister, Hon. Hu’akavameiliku, met with the World Bank’s Vice President for East Asia and the Pacific, Ms. Manuela V. Ferro, during the Bank’s Annual Meeting 2022, at which he led the Kingdom’s delegation, in his capacity as Acting Minister for Finance, and thus the Governor for Tonga in the Bank’s Board of Directors.
Prime Minister, The Hon. Hu’akavameiliku:-
At the outset he acknowledged the strong partnership and expanded portfolio with the World Bank for over 27 years, and thus thanked the Bank for their robust and timely support during these unprecedented times – COVID-19, Hunga Tonga Hunga Ha’apai eruptions and tsunami, through CATDDO (Catastrophe Deferred Drawdown Option) and extra budget support, in addition to their development funded projects. The Bank’s swift, diligent and committed staff were able to deliver according to World Bank standards.
The Prime Minister updated the Vice President and her team on the current economic challenges confronting Tonga, including recovery from the COVID-19 pandemic, Hunga Tonga-Hunga Ha’apai (HT-HH) volcanic eruption and subsequent tsunami, and rising inflation due to rising global commodity prices. (Two weeks after his Administration started, they dealt with the tsunami and the aftermath of the tsunami / damage to the cable, following the covid community transmission. Now the government is strengthening its rebuilding efforts for communities, albeit inflation is not helping.
He was pleased that this meeting was convened, in order to see how the Government and the Bank can work together, to minimize all those competing challenges with which Tonga is currently confronted. He thus reassured the World Bank on the Government of Tonga’s ongoing commitment to the reform program, linked to budget support and the Government’s economic recovery, and the ongoing commitment and renewed efforts to boost implementation of IDA 18,19 with a view on IDA 20.
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