Method, system and program storage device are provided for monitoring and ameliorating congestion in a tightly coupled network. Commensurate with sending a packet into the network, a first time stamp is recorded. Upon receipt of an acknowledgment back across the network responsive to sending of the packet, a second time stamp is recorded. The round trip time of the packet is determined and an amount of congestion is estimated using the determined round trip time and a statically predetermined round trip representative of at least one of no network congestion or a known degree of network congestion. The number of flow control tokens for the destination node can be dynamically varied in response to the estimate of the amount of network congestion. If desired, monitoring and estimating of network congestion can be initiated only after identifying the existence of network congestion, for example, represented by a lack of flow control tokens at a sender node for a destination node.