East Timor faces a “fiscal cliff” next decade if the Greater Sunrise gas field north of Australia is not developed in the next few years, the International Monetary Fund says.
The warning that the impoverished country’s $US17.4 billion petroleum fund could be depleted by 2038 has ramped up pressure on East Timor’s government, Australia and Woodside Energy to ensure the Greater Sunrise gas field goes ahead.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
