DILI, 06 june 2023 ( TATOLI)– Timor-Leste’s Minister of Finance, Rui Gomes met with Prime Minister, Taur Matan Ruak to update regarding the evaluation of the petroleum fund that will be conducted by the United States Independent team.
“This meeting is to inform the Prime Minister, about the Independent team, Mercer from the United States which will evaluate the first evaluation on petroleum funds in Timor – Leste which is previously not conducted yet by the government of Timor – Leste during this time,” Minister of Finance, Rui Gomes told the media at the Palace of Government Dili.
He explained that this evaluation would focus on governance, investment, resources, and operations.
“Evaluation of the petroleum funds which is used by the government whether has been reaching the target or not,” he said.
The independent team from the United States (Mercer) located in Singapore has been in Dili and the evaluation process will be carried out by the team and the Ministry of Finance and the Bank Central of Timor – Leste ( BCTL).
The evaluation will be launched on 05 to 09 june 2023, and the report of evaluation will be further submitted to the Government in August 2023.
Based on a report from BCTL, Timor – Leste’s petroleum funds in Federal Bank of United States on March 31, 2023, were worth $17.832 billion compared to the final trimester of 2022 was $17.141 billion.
Journalist : Antonia Gusmao
Editor: Julia Catharina
Translation: Camilio de Sousa
