Democratic Republic of Timor-Leste: 2022 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2022/307, IMF Staff Country Reports from International Monetary Fund

Abstract: 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 (search for similar items in EconPapers)
Pages: 81
Date: 2022-09-22
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