Four years after the Extractive Industries Transparency Initiative (EITI) began encouraging contract disclosure through its standard, this report assesses the extent to which governments of resource-rich countries have taken up the recommendation.
Income from oil provides Timor-Leste with an opportunity to pursue development orientated goals. This case study describes the Timor-Leste Petroleum Fund (PF) and how it sought to generate income for current and future generations. The PF is highly ranked among sovereign wealth funds especially for a new, post-conflict country and has successfully accumulated large savings, however as this study suggests there are shortcomings which could provide lessons for other countries.
