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Asia and Pacific > Timor-Leste, Democratic Republic of

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Cover IMF Staff Country Reports
Democratic Republic of Timor-Leste: 2022 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Asia and Pacific Dept
Timor-Leste has made impressive strides in economic development and institution building. Yet, it is a low-income and fragile country with pressing development needs. A large fraction of the population faces chronic food insecurity, and significant gaps exist in health, education, and infrastructure. With active oil fields nearly depleted, little progress has been made in diversification while fiscal sustainability is at high risk. Higher food and oil prices are fueling higher inflation, exacerbated by political spending pressures ahead of the general elections in 2023.
Keywords:
government expenditure rationalization; WTI crude; Timor-Leste authorities; oil GDP; merchandise export; Oil; Debt sustainability analysis; Global
Cover IMF Staff Country Reports
Democratic Republic of Timor-Leste: Selected Issues
International Monetary Fund. Asia and Pacific Dept
Selected Issues
Keywords:
D. policy implication; model application to Timor-leste; model calibration; copyright page; adaptation investment scenario; Infrastructure; Natural disasters; Private investment; Climate change; Government debt management; Global
Cover IMF Staff Country Reports
Timor-Leste: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Timor-Leste
International Monetary Fund. Asia and Pacific Dept
Although Timor-Leste has made considerable progress in many areas since its independence in 2002, it faces significant medium-term challenges. The nation has pressing development needs, young institutions, and is highly dependent on oil. Oil revenues from active fields, which have been the main source of funding for government spending, are drying up. The non-oil private sector economy remains underdeveloped and lack of good jobs and high youth unemployment are serious concerns.
Keywords:
Timorese authorities; oil GDP; WTI crude; government coalition; private sector development; Oil; Debt sustainability analysis; Global
Cover Policy Papers
Key Trends in Implementing the FUND's Transparency Policy
International Monetary Fund. Strategy, Policy, & Review Department
At the time of the 2005 Review of the Fund’s Transparency Policy, the Executive Board required regular updates on trends in implementing the transparency policy. This report provides an overview of recent developments, reflecting information on documents considered by the Board in 2019 and their respective publication status up to June 2020, and updating the previous annual report on Key Trends.
Keywords:
transparency Policy; article IV; publication rate; deletion request; country policy intention document; Emerging and frontier financial markets; Monetary unions; Anti-money laundering and combating the financing of terrorism (AML/CFT); Financial Sector Assessment Program; Debt sustainability analysis; Middle East; North Africa; Central and Eastern Europe; East Africa; Western Hemisphere
Cover IMF Staff Country Reports
Democratic Republic of Timor-Leste: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Timor-Leste
International Monetary Fund. Asia and Pacific Dept
This 2019 Article IV Consultation highlights that Timor-Leste remains a fragile post-conflict nation with weak human and institutional capacity and large infrastructure gaps. The main challenge facing Timor-Leste is to effectively manage its petroleum wealth to reduce public-sector dependence, diversify the non-oil economy, generate jobs for a young and rapidly-growing population, and raise living standards. Political uncertainty constrained public spending in 2017–18, resulting in a sharp contraction of non-oil GDP in 2017 and flat growth in 2018. The report discusses that risks to the outlook are closely tied to the success of fiscal and structural reforms to maintain macroeconomic stability, ensure long-run fiscal sustainability, and facilitate economic diversification. The consultation recommends that a fiscal strategy should be pursued to improve expenditure control and efficiency, mobilize domestic revenue, and commit to protecting the wealth of the Petroleum Fund. Ongoing efforts to strengthen public financial management and promote good governance are crucial to ensure public investment efficiency and enhance the quality of public services.
Keywords:
ISCR; CR; Timorese authorities; authority; majority government; U.S. dollar; PF balance; Banco Central de Timor-Leste; PF withdrawal; Oil; Global