DILI, 11 March 2025 (TATOLI) – President Jose Ramos Horta met with Central Bank of Timor-Leste (BCTL) Governor Helder Lopes at the Presidential Palace to receive updates on the Central Bank’s ongoing initiatives.
During the meeting Governor Helder Lopes emphasized the importance of private sector involvement in achieving sustainable economic growth.
Lopes highlighted that Timor-Leste’s economy remains heavily dependent on public expenses and the oil sector.
He explained that the Central Bank of Timor-Leste (BCTL) is working to strengthen the financial industry by attracting more investment while creating a secure environment for them by creating relevant law and regulation. This approach aims to support the growth of various industries beyond the dominant public and oil sectors.
The Central Bank has established three key priorities to advance economic diversification, according to Governor Helder Lopes. First, expanding the credit market through improved regulations and security frameworks; second, promoting financial inclusion by providing literacy training to Micro, Small, and Medium Enterprises; and third, facilitating digital payment systems throughout the country. As part of this third initiative, BCTL has already launched “Banku iha Ha’u Nia Bolsu” (Bank in My Pocket), a mobile banking program designed to improve rural communities’ access to credit services and other financial transactions.
TATOLI
