• Ministry of Finance Set to Host a Virtual Conference with the IMF Article IV Mission in May 2021

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Ministry of Finance Set to Host a Virtual Conference with the IMF Article IV Mission in May 2021

Thursday, 4 of February 2021.

Dili, Timor-Leste – The Ministry of Finance Timor-Leste with the support from the IMF Constituency of Brazil, of which Timor-Leste is a member of, will host the virtual conference with the IMF Article IV Mission staff in May 2021, the Ministry agreed on Thursday, 4 of February 2021 in a virtual meeting held between the Ministry and the IMF Constituency of Brazil.

This upcoming virtual conference will be an opportunity for the IMF Article IV Mission staff to conduct the virtual consultations and discussions with the Government line ministries, the Central Bank, development partners as well as the representatives of the private sectors and civil society in order to give their assessment of the country’s economic and financial developments. It will also be an opportunity for the Ministry of Finance to get inputs from the IMF on the preparation of the 2022 General State Budget.

During the virtual meeting, the Minister of Finance, H.E. Rui Augusto Gomes and the Executive Director of the IMF Constituency of Brazil, Afonso Bevilaqua, also discussed some of the technical assistances needed from the IMF Capacity Development Centre especially in the areas of macroeconomic forecasting, fiscal sustainability analysis, revenue forecasting and fiscal and Public Financial Management reforms.

This virtual conference was also participated by Chief of Staff to the Minister of Finance, Jo Monteiro, Director General of Planning and Budgeting, Jose Alexander Carvalho, Georgina Conway, Macroeconomist at the National Directorate of Economic Policy and the Advisors from the Office of the Minister of Finance. Accompanying the Executive Director Bevilaqua in this virtual meeting, Bruno Saraiva, Alternate Executive Director and Diogo Coelho, Advisor at the office of the IMF Constituency of Brazil.

Prior to this virtual meeting, on January 8, 2021, the Ministry of Finance and the Head of IMF Article IV Mission conducted a virtual meeting to discuss the 2021 Article IV Mission staff visit to Timor-Leste. However, due to the uncertainty caused by the Covid-19 pandemic, the consultations and discussions will only take place via a virtual conference. The IMF Article IV team visited Timor-Leste as part of their initial staff visit in February 2020, however the complete 2020 Article IV Mission scheduled for later in the year was unable to take place due to the Covid-19 pandemic.

The IMF constituency of Brazil, of which Timor-Leste is a member of, consists of eleven countries namely Brazil, Cabo Verde, Dominica Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Timor-Leste and Trinidad Tobago.

ENDS