PM Xanana Joins Bangkok Seminar on Prudent Management of Timor-Leste’s Petroleum Fund
BANGKOK — Prime Minister Kay Rala Xanana Gusmão convened with financial experts in Bangkok today to evaluate robust strategies and long-term frameworks aimed at securing the sustainable management of Timor-Leste’s Petroleum Fund.
The two-day high-level forum, co-hosted by the Ministry of Finance and the Central Bank of Timor-Leste (BCTL), kicked off on Tuesday (10/06) to address critical fiscal policies, investment models, and structural fiscal transitions.
In his keynote address, the Head of Government underscored that while the Petroleum Fund has successfully anchored national development since independence, shifting global realities require heightened vigilance and adaptive foresight.
“Now, we are in a time of concern, as it is nearly depleted and we do not know the uncertainties of today’s world. Thank you for coming together to reflect, using your wisdom and experience to help us prudently manage our Petroleum Fund,” stated PM Xanana.
Minister of Finance Santina José Rodrigues F. Viegas Cardoso noted that balancing multi-generational needs demands rigorous fiscal discipline, particularly as historical withdrawals have frequently outpaced the Estimated Sustainable Income (ESI).
With the Fund’s balance hovering near $19 billion, BCTL Governor Helder Lopes emphasized that insights shared by international sovereign wealth experts from Australia and Norway will greatly strengthen upcoming policy formulation.
The international seminar runs through October 7, 2026, shaping actionable guidelines for the country’s economic future.
(Prime Minister’s Office – GPM)