DILI, 06 May 2025 (TATOLI) – In a press conference held in Dili today, the Banco Central de Timor-Leste (BCTL) reported that the country’s Petroleum Fund capital had decreased from US$18.27 billion on December 30, 2024, to US$18.25 billion on March 31, 2025.
“The capital of the Fund at the end of the current quarter was US$18.25 billion while the previous quarter was US$18.27 billion,” BCTL said in a report released today.
According to BCTL’s Governor, Helder Lopes, a total of US$254.03 million was withdrawn from the Fund in the first quarter of the year—US$250 million of which had been transferred to the State Budget, and US$4.03 million was used for management costs.
The report said that the Gross cash inflows to the fund from royalties and taxes were US$6.2 million.
“The profit and loss for the quarter was US$221,16 million. The return on financial market investments was 1.19% compared with the benchmark return of 0.96%,” read the report.
The Petroleum Fund law specifies that the Operational Manager (Banco Central de Timor-Leste) is the agent responsible for the operational management of the Fund. The Ministry of Finance is responsible for setting the overall investment strategy for the Fund.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
