There is now both an implementation of Countdown Timer in OHRT and in the OHRT Block Library.
Use of the block library will look something like this:
Usage of the library in a JS Scripting Rule would look something like this:
var { CountdownTimer } = require('openhab_rules_tools');
var timer = cache.private.get('timer', () => CountdownTimer('PT5M', () => {
// timer code goes here
}, 'MyItem');