| A bill allowing more diversified investments by Timor-Leste's multi-billion dollar oil and natural gas sovereign fund, which underwrites the lion's share of the country's expenditure, has divided opinion. Some say the step is necessary to maintain current levels of development spending, others call the move risky.
The amendment, which was passed by parliament in August and recently approved by the president, allows for up to 50% of the country's petroleum fund, currently exceeding $8.7bn, to be invested in equities, including up to 5% in other forms of investments............................................Full Article: Source |