Helder Lopes on governing Timor-Leste’s financial sector

Helder Lopes, Governor of Timor-Leste’s Central Bank, spoke with Robin Davies when he visited Australia in May 2024 under the Special Visits Program of the Department of Foreign Affairs and Trade.

The Central Bank of Timor-Leste is a young institution, established in 2011. It combines some of the responsibilities of our own reserve bank with those of the Australian Securities and Investments Commission and the Australian Prudential Regulatory Authority, and it manages Timor-Leste's sovereign wealth fund, the Petroleum Fund.

Helder is only the Central Bank’s second Governor, and is six months into a six-year term. He talks about the need to put Timor-Leste’s Petroleum Fund on a sustainable footing, accelerate private sector development, harness the benefits of remittances from its citizens working in countries such as Australia, the UK and South Korea, expand the range and reach of financial services, and carefully review the pros and cons of continuing to use the US dollar as the country’s national currency.

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