DILI, 27 October 2025 (TATOLI) – President and Nobel Peace Laureate, Jose Ramos-Horta held a productive meeting today with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), focusing on the nation’s economic future, its recent accession to ASEAN, and strategic pathways for sustainable development.
The Managing Director opened the meeting by congratulating Timor-Leste on its historic admission to ASEAN, noting that in an increasingly pragmatic world, the country’s regional role has become even more important. She acknowledged Timor-Leste’s unique position as a young nation with the advantage of setting its own destiny.
In the discussions, the President expressed profound gratitude for the IMF’s steadfast partnership since the nation’s first days of independence. He affirmed that Timor-Leste joins ASEAN with humility and a commitment to strengthening regional unity, drawing lessons from other regional blocs. The President emphasized that domestic peace is the foundation for economic performance and enhanced cooperation with ASEAN partners.
The President detailed the significant progress made under the government’s Strategic Development Plan, highlighting critical investments in national infrastructure. He reported that electricity access now reaches 96.1 percent of the population and cited major projects such as the Tibar Bay Port Public-Private Partnership, new submarine cables, a new airport, and a planned major shipyard.
President Ramos-Horta stated, “To develop the country you need two things: roads and electricity. Before, nobody had proper access. Now it is 96.1 percent. We are investing in the country, we are investing for the future.”
A central theme of the dialogue was economic diversification. The IMF Managing Director urged a focus on creating a more diversified economy to provide opportunities for Timor-Leste’s youthful population and to reduce reliance on the petroleum sector. She offered the IMF’s technical support to help build a sounder fiscal footing and manage the Petroleum Fund to ensure predictability for future generations.
The Prime Minister Kay Rala Xanana Gusmão, accompanied by Vice Prime Minister Francisco Kalbuadi Lay and Vice Minister for ASEAN Affairs Milena Rangel, who also participated in the meeting, outlined the government’s efforts to boost non-oil sectors, including tourism and the Blue Economy. They addressed the challenge of shifting mentalities and promoting entrepreneurship, announcing plans for a national bank to support micro, small, and medium enterprises. The goal is to capitalize on domestic production to reduce imports and create sustainable jobs.
Both parties agreed on the critical link between economic opportunity and global peace. The President concluded the meeting by formally inviting the Managing Director to visit Timor-Leste, an invitation which was warmly received.
TATOLI
