Democratic Republic of Timor-Leste: Staff Report for the 2003 Article IV Consultation
IMF Staff Country Reports, July 28, 2003
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- Democratic Republic of Timor-Leste: Staff Report for the 2003 Article IV Consultation
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Bibliographic details
- Published: July 28, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451837254.002
Background and development challenges
- Timor-Leste is described as "one of the most underdeveloped countries in the world."
- During the turmoil, "two-thirds of the physical infrastructure is estimated to have been destroyed."
- Constraints highlighted: poor infrastructure, limited administrative capacity, and nascent institutions.
Fiscal policy assessment and recommendations
- Executive Directors stressed that "fiscal policy should bear the major burden of sustaining macroeconomic stability."
- The development of a "medium-term fiscal strategy" is encouraged.
- Key subject areas identified: Budget planning and preparation; Expenditure; Fiscal policy; Public financial management (PFM); Revenue administration.
Institutional and administrative measures
- The authorities' decisions to address poor management and bill collection were welcomed, specifically:
- introduction of an external management contract; and
- adoption of a prepaid meter system.
Keywords and thematic focus
- Subject keywords listed: Budget planning and preparation, Commodities, Expenditure, Fiscal policy, Oil, Public financial management (PFM), Revenue administration
- Additional keywords: authority, Budget planning and preparation, CR, gas revenue, government, IMF staff estimate, investment regime, ISCR, Oil, power authority, Timor-Leste authorities, U.S. dollar