Democratic Republic of Timor-Leste: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Timor-Leste

February 27, 2024

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Democratic Republic of Timor-Leste: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Timor-Leste, (USA: International Monetary Fund, 2024) accessed December 21, 2024

Summary

Timor-Leste has made impressive progress since independence in 2002 but remains a fragile post-conflict nation with pressing development needs. With oil and gas production having recently come to a halt, progress on diversifying the economy and developing the private sector is urgently needed. Fiscal deficits are financed by the country’s considerable Petroleum Fund savings, but regular large withdrawals are expected to lead to its full depletion by the end of the 2030s. A new coalition government—formed following parliamentary elections in May 2023—targets higher growth and achieving fiscal sustainability.

Subject: Commodities, Debt sustainability analysis, Expenditure, External debt, Fiscal policy, International organization, Monetary policy, Oil, Public debt

Keywords: Debt sustainability analysis, Fiscal cliff, Global, Oil, Private sector development, Timorese authorities, Timor-Leste authorities, WTI crude

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/056
Stock No:

1TLSEA2024001
ISBN:

9798400269660
ISSN:

1934-7685

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