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, May 7, 2019 - Business & Economics - 80 pages
Notwithstanding impressive progress since independence in 2002, 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.
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Financial Sector Development and Stability
Public Financial Management Reform in TimorLeste
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Article IV consultation Asian Development Bank assessment average baseline scenario BCTL budget capital spending ConocoPhillips country’s current account debt distress Debt Sustainability Analysis debt-to-GDP deficit Democratic Republic demographic dividend diversification economic estimates and projections excess withdrawals external borrowing external debt financial inclusion financial sector develops Fºr Greater Sunrise fields IMF staff calculations IMF staff estimates implementation improve increase inflation International Monetary Fund labor productivity lºw macroeconomic medium medium-term million Monetary non-oil growth º º º ºil ºn tº one-off breach PEFA percent of GDP percent of total petroleum exports Petroleum Fund petroleum production PF balance PFM reform population private sector projection horizon Public Debt public financial management public sector public spending ratio REER reform scenario Republic of Timor-Leste risk shock Sources Sovereign Wealth Funds Staff Report strategy strengthening stress test Timor Timor Gap Timorese tºº U.S. dollar World Bank