Democratic Republic of Timor-Leste: 2024 Article IV Consultation-Press Release; Staff Report

December 17, 2024

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International Monetary Fund. Asia and Pacific Dept "Democratic Republic of Timor-Leste: 2024 Article IV Consultation-Press Release; Staff Report", IMF Staff Country Reports 2024, 342 (2024), accessed December 17, 2024, https://doi.org/10.5089/9798400293375.002

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Summary

Timor-Leste has made impressive progress since independence but remains a fragile post-conflict nation with an under-diversified private sector. The economy remains highly dependent on the public sector, which has been financed primarily by proceeds from the Petroleum Fund, in which the state has invested its substantial savings from past oil and gas production. But production is dwindling and large withdrawals from the PF, should they continue, would lead to its full depletion by the end of the 2030s. Over the past decade, a high share of public spending relative to the economy has delivered only modest growth and development.

Subject: Commodities, Debt sustainability analysis, Expenditure, External debt, Fiscal policy, Fiscal stance, Food prices, Government debt management, Inflation, Oil, Prices, Public debt, Public financial management (PFM)

Keywords: Debt sustainability analysis, Fiscal stance, Food prices, Government debt management, Inflation, Oil

Publication Details

Pages:

80
Volume:

2024
DOI:

https://doi.org/10.5089/9798400293375.002
Issue:

342
Series:

Country Report No. 2024/342
Stock No:

1TLSEA2024002
ISBN:

9798400293375
ISSN:

1934-7685

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