Controversial foreign exchange controls “not enforced”, Reserve Bank Governor says


Nuku’alofa, Tonga: A new Foreign Exchange Control Act 2018 that gives the National Reserve Bank of Tonga sweeping powers to selectively stop Tongan residents from investing offshore and from holding overseas bank accounts, property and other offshore assets, is not currently being enforced. The Governor of the National Reserve Bank of Tonga, Dr Ngongo Kioa, said today that the new Act awaits regulations and directives from Crown Law.

Source: Controversial foreign exchange controls “not enforced”, Reserve Bank Governor says