Democratic Republic of Timor-Leste: 2010 Article IV Consultation—Staff Report; Joint World Bank/IMF Debt Sustainability Analysis; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Timor-Leste

March 8, 2011

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Democratic Republic of Timor-Leste: 2010 Article IV Consultation—Staff Report; Joint World Bank/IMF Debt Sustainability Analysis; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Timor-Leste, (USA: International Monetary Fund, 2011) accessed December 21, 2024

Summary

The Timorese economy has improved owing to high oil-financed public spending and a rebound in agriculture, non-oil growth. Despite high bank deposit growth, private sector credit has remained stagnant. The medium-term outlook for growth is positive. Timor-Leste’s key challenge remains to use its petroleum wealth wisely to build a strong non-oil economy and raise living standards. Improvements in financial management and budget execution will be important. Productivity-enhancing structural reforms and efforts to build labor skills would improve competitiveness in non-oil industries and services.

Subject: Capital spending, Commodities, Expenditure, Oil, Oil prices, Prices, Public debt

Keywords: Authorities of Timor-Leste, Authority, Capital spending, CR, Debt, Global, Government, Government cash, Higher-than-expected inflation, ISCR, Oil, Oil prices, Revealed determination, Staff appraisal

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/065
Stock No:

1TLSEA2011001
ISBN:

9781455219933
ISSN:

1934-7685

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