PANGIKE PULE FAKAFONUA NATIONAL RESERVE BANK ‘O TONGA OF TONGA Private Bag No.25 Salote Road Nuku’alofa, Tonga South Pacific 22 August 2013 PRESS RELEASE APPOINTMENT OF GOVERNOR The Chairman and the Board of Directors of the National Reserve Bank of Tonga are pleased to announce the appointment of Dr. Sione Ngongo Kioa as the new Governor of the National Reserve Bank of Tonga for a term of 5 years effective from 21 August 2013. As the 4th Governor of the National Reserve Bank of Tonga, Dr Kioa succeeds Mrs Siosi Cocker Mafi, who completed her 10- year term as Governor on the 5th July 2013. The principal objectives of the Reserve Bank of Tonga are to maintain internal and external monetary stability and promote a sound and efficient financial system. Dr Kioa brings with him a wealth of more than 31 years of experience. Prior to joining the National Reserve Bank of Tonga as Governor, Dr Kioa has served as a Board Director for the National Reserve Bank of Tonga and Ports Authority of Tonga. He is the owner and the Principal Consultant for Kioa Consults, Dr Kioa has more than 10 years of consultancy experience, mostly with the Australian Government (AusAID). During his 7 years as the Tonga’s High Commissioner to the United Kingdom from 2006 to 2012, Dr Kioa was the Chairman for the Board of Governors of the Commonwealth Secretariat, Tonga’s Representative to the World Trade Organisation and the Ambassador to the European Union. Dr Kioa’s international experience also includes being an Assistant to the Executive Director of the International Monetary Fund from 1999 to 2001. Within the Government Civil Service, Dr Kioa held senior positions including more than three years as Deputy Secretary for Finance, Statistician at the Statistics Department, Project Economist and Deputy Director for the Central Planning Department. In the private Sector, Dr Kioa was once the President for the Tonga Chamber of Commerce whilst being the CEO for the Leiola Group Ltd from 2002 to 2005. Dr Kioa has a Doctor of Philosophy in Macroeconomics, a Master of Economics and a Graduate Diploma from the Australian National University in Australia. He also holds a Bachelor’s degree in Mathematics and Economics from the University of the South Pacific. For further details please contact: National Reserve Bank of Tonga Telephone (676) 24 057; Fax (676) 24 201 Email: [email protected] Website: www.reservebank.to Telephone: (676) 24-057 Facsimile: (676) 24-201 Email: [email protected] Website : www.reservebank.to .