| Subject: KY: E.
Timor fiscal, monetary authority to be set up
Kyodo News Service E. Timor fiscal,
monetary authority to be set up Supalak
DILI, East Timor, Dec. 29 Kyodo
An advisory group on East Timorese
affairs set up by the United Nations decided to create a central fiscal
and monetary authority early next month as an initial step to reviving the
economy, the chief of the U.N. Transitional Administration in East Timor (UNTAET)
said Wednesday.
The National Consultative Council (NCC)
is set to approve five proposed regulations under consideration by a
technical panel on finance and macro-economic issues during its next
meeting Jan. 13 and 14, Sergio Vieira de Mello, the UNTAET administrator,
said.
'The establishment of those frameworks
aims to create a sound economic fiscal and financial environment in Timor
to revive the economic life of the new country,' he said.
De Mello said the proposed central
authority will be 'the embryo' of the finance ministry for the new East
Timor.
'It will be a regulatory body of all
fiscal and budgetary matters of East Timor, but it is under UNTAET in its
early stages,' de Mello, who is also the chairman of the NCC, told
reporters after the council meeting.
The council was set up to give East
Timorese a voice in the decision-making process during transition to
independence. It has 15 members, 11 East Timorese and four U.N. officials.
'The question of an official currency or
currencies is a complicated issue' because of its technical and political
implications, de Mello said, adding a meeting on that issue with experts
from the International Monetary Fund is set for January.
The UNTAET chief said business activities
in East Timor are likely to resume soon, noting Indonesian investors want
to do business in the territory as soon as necessary regulations are fully
in place.
Back
to December Menu
World Leaders Contact List
Human Rights Violations in East Timor
Main Postings Menu
Note: For those who would like to fax "the
powers that be" - CallCenter V3.5.8, is a Native 32-bit Voice Telephony software
application integrated with fax and data communications... and it's free of charge!
Download from http://www.v3inc.com/ |
