24 January -- The head of the United Nations administration in East Timor signed a regulation today establishing the US dollar as the official currency of that country, the UN Transitional Administration in East Timor (UNTAET) announced in Dili.
According to the regulation adopted Saturday by the National Consultative Council (NCC), contracts between different parties may still be executed in other currencies, but compulsory payments to public authorities are to be paid in US dollars. During the transitional period, payments made with Indonesian rupiah will be accepted, but subjected to a transaction fee.
At the same session of the NCC, UN Transitional Administrator Sergio Vieira de Mello signed a regulation establishing East Timor's Central Payments Office, a crucial first step that will facilitate payments and ultimately become the country's Central Bank.
In other news from East Timor, a new programme was launched last Friday to combat tuberculosis via immunization and the treatment of infectious cases. The programme expects to equip hospitals in all regions of the country to work on tuberculosis by the end of the year.
