The Central Bank of Timor-Leste published a joint agreement by the governors and presidents of eight Portuguese-speaking central bank institutions to establish the Network of Central Banks of Portuguese-Speaking Countries, or BCPLP. The network brings together the central banks of Angola, Brazil, Cape Verde, Mozambique, Portugal, São Tomé and Príncipe and Timor-Leste, alongside the Central Bank of West African States represented for Guinea-Bissau, and is intended to make existing cooperation more structured and permanent while strengthening knowledge-sharing and coordination on issues of common interest. The network will operate through an annual rotating presidency, with each central bank able to place relevant shared topics on the agenda for deeper discussion. Its structure will include regular high-level meetings, technical working groups and an economic policy committee to examine policy issues affecting the participating economies and to exchange experience, best practices and knowledge across the member central banks. The first official meeting is scheduled for November 2026 in Luanda, and the first presidency will be held by the Bank of Portugal in 2027.
Central Bank of Timor-Leste2026-04-14
Central Bank of Timor-Leste and seven Portuguese-speaking peers agree to establish BCPLP cooperation network
The Central Bank of Timor-Leste published a joint agreement with seven other Portuguese-speaking central bank institutions to create the BCPLP cooperation network. The arrangement is designed to formalize existing cooperation through rotating leadership, regular meetings, technical working groups and an economic policy committee. The first meeting is planned for November 2026 in Luanda, with the Bank of Portugal to hold the first presidency in 2027.