E. Timor to use dollar as its official currency<\/p>\n
DILI, East Timor (AP): The U.S. dollar is to become East
\nTimor's official currency while it prepares for eventual self-
\ngovernment, members of the devastated territory's main
\nindependence group said on Monday.<\/p>\n
Officials of the National Council of Timorese Resistance, or
\nCNRT, said the decision would be announced later Monday by the
\nInternational Monetary Fund and the UN, which is administrating
\nEast Timor.<\/p>\n
The officials said the decision to use dollars was made in
\nconsultation with their group. They spoke on condition of
\nanonymity.<\/p>\n
East Timor broke away from Indonesia last year after a UN-
\nsupervised ballot Aug. 30 that triggered a bloody backlash by
\nanti-independence militiamen. International peacekeepers restored
\norder in September.<\/p>\n
As normalcy slowly returns, East Timor's people have been
\nusing the Indonesian rupiah and the U.S. dollar along with the
\nAustralian dollar, introduced by the Australian-led peacekeeping
\nforce, and the Portuguese escudo, the currency of East Timor's
\nformer colonial master.<\/p>\n
Separately, the head of the UN authority in East Timor, Sergio
\nVieira de Mello, has approved a regulation setting up a central
\npayments office to regulate East Timor's financial and banking
\nsystem, UN spokesman Manoel de Almeida e Silva said Monday.<\/p>\n
\"The central payments office, which is to ultimately become
\nEast Timor's central bank, is an institution crucial to efficient
\npayments and a sound banking system in East Timor,\" he said.<\/p>",
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