E Timor rushes to build new monetary system

ASIA-PACIFIC - E Timor rushes to build new monetary system - The region has never had a central bank and must create it from scratch, writes Joe Leahy.

Building a central bank from scratch in one of the world's poorest countries was never going to be easy.

But Fernando DePeralto, general manager of the Central Payments Office, East Timor's de facto monetary authority, manages to put a gloss on it.

"In some post-colonial African countries, significant restructuring of central banks was needed," s

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