TY - BOOK ID - 85594139 TI - Democratic Republic of Timor-Leste : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of Timor-Leste. AU - International Monetary Fund. AU - International Monetary Fund PY - 2019 SN - 1498313647 1498313604 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - International Monetary Fund. KW - World Bank Group KW - Asian Development Bank KW - ADB KW - Banque asiatique de développement KW - Grupa Svjetske banke KW - Groupe de la Banque mondiale KW - Gruppo della Banca mondiale KW - Majmūʻat al-Bank al-Dawlī KW - Nhóm Ngân hàng thế giới KW - Grupo del Banco Mundial KW - Internationaal monetair fonds KW - International monetary fund KW - Investments: Energy KW - Exports and Imports KW - Macroeconomics KW - Public Finance KW - Statistics KW - International Lending and Debt Problems KW - National Government Expenditures and Related Policies: General KW - Debt KW - Debt Management KW - Sovereign Debt KW - Energy: General KW - Data Collection and Data Estimation Methodology KW - Computer Programs: Other KW - Public finance & taxation KW - International economics KW - Investment & securities KW - Econometrics & economic statistics KW - Public debt KW - External debt KW - Oil KW - Public financial management (PFM) KW - Expenditure KW - Commodities KW - Debts, External KW - Debts, Public KW - Petroleum industry and trade KW - Finance, Public KW - Expenditures, Public KW - Timor UR - https://www.unicat.be/uniCat?func=search&query=sysid:85594139 AB - This 2019 Article IV Consultation highlights that Timor-Leste remains a fragile post-conflict nation with weak human and institutional capacity and large infrastructure gaps. The main challenge facing Timor-Leste is to effectively manage its petroleum wealth to reduce public-sector dependence, diversify the non-oil economy, generate jobs for a young and rapidly-growing population, and raise living standards. Political uncertainty constrained public spending in 2017–18, resulting in a sharp contraction of non-oil GDP in 2017 and flat growth in 2018. The report discusses that risks to the outlook are closely tied to the success of fiscal and structural reforms to maintain macroeconomic stability, ensure long-run fiscal sustainability, and facilitate economic diversification. The consultation recommends that a fiscal strategy should be pursued to improve expenditure control and efficiency, mobilize domestic revenue, and commit to protecting the wealth of the Petroleum Fund. Ongoing efforts to strengthen public financial management and promote good governance are crucial to ensure public investment efficiency and enhance the quality of public services. ER -