Petroleum Funds increase by US $7.7 million

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Diario Nacional, May 10, 2011 language source: Tetun

Bank Payment Authority (BPA)’ trimester report for 23rd showed that the balance of the Petroleum Funds increased by US $7,7 million.

Director of BPA, Venancio Alves Maria, said the Petroleum Funds recent increase is more significant compared to the increase of US $6.9 million last December.

Maria said the balance of the funds continues increasing, adding that the Government is proposing to widen half of the investment and that is a new challenges for BPA because managing wealth is a complicated task.

“BPA manages the investment activities based on the criteria of the USA Government, and all the process shows high quality returns…” Maria said.

He added that the BPA programs for managing the wealth of Timor-Leste, reflects the reality and the needs of the people of Timor-Leste.

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