17 June 2014

Timor-Leste oil fund totals US$15.7 billion in March 2014

ETLJB 17/06/2014 - macauhub 22 May 2014 The value of the Timor-Leste (East Timor) Oil Fund totalled US$15.7 billion at the end of March, according to a report issued Wednesday by the Timor-Leste Central Bank.

At the end of 2013, the Oil Fund was worth US$14.9 billion.

The report on the first quarter of 2014 said that gross capital inflow totalled US$543.65 million, of which US$231.18 was in contributions and US$312 million in royalty payments from the National Oil Authority.

"Income from the Fund's investments was US$179.82 million, of which US$87,38 million were from dividends and interest and US$92.44 million as a result of changes in the value of the securities held," the report said.

The Timor Oil Fund was set up in August 2005. It gathers together the State's oil revenues and is managed by the country's Central Bank.  Source: macauhub/TL

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