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

International Monetary Fund

No 2011/065, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; authority; higher-than-expected inflation; authorities of Timor-Leste; debt; government; staff appraisal; government cash; revealed determination; Oil; Capital spending; Oil prices; Global (search for similar items in EconPapers)
Pages: 71
Date: 2011-03-08
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