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Democratic Republic of Timor-Leste : selected issues

Author: Tobias Rasmussen; International Monetary Fund.
Publisher: [Washington, D.C.] : International Monetary Fund, ©2009.
Series: IMF country report, no. 09/220.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
1. As a new but impoverished state, Timor-Leste soon faced the prospect of becoming a significant petroleum exporter. Although modest by international standards, the country's hydrocarbon resources are vast compared to its small non-oil economy. The start of production at the off-shore Bayu-Undan field in 2004, two years after the restoration of independence, quickly made petroleum the largest source of income (Box  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Rasmussen, Tobias.
Democratic Republic of Timor-Leste.
Washington, D.C. : International Monetary Fund, ©2009
(OCoLC)430496054
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Tobias Rasmussen; International Monetary Fund.
ISBN: 1283561697 9781283561693
OCLC Number: 455461267
Description: 1 online resource (14 pages) : illustrations, map.
Series Title: IMF country report, no. 09/220.
Responsibility: prepared by Tobias Rasmussen.

Abstract:

1. As a new but impoverished state, Timor-Leste soon faced the prospect of becoming a significant petroleum exporter. Although modest by international standards, the country's hydrocarbon resources are vast compared to its small non-oil economy. The start of production at the off-shore Bayu-Undan field in 2004, two years after the restoration of independence, quickly made petroleum the largest source of income (Box 1). With oil prices having skyrocketed before falling back in the second half of 2008, oil and gas revenue rose to over 95 percent of government proceeds. Income from hydrocarbon extraction is likely to remain a major source of government revenue for some time and represents an opportunity to develop the economy and raise living standards.

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