Support a debt free Timor-Leste
Linkedin

Support a debt free Timor-Leste

Dili : East Timor | Oct 18, 2011 at 6:55 AM PDT
XX XX
Views: Pending
 

Don't let the bankers occupy Dili. Sign the petition!

Background

The Government of Timor-Leste is currently free of debt. Despite current substantial income from petroleum resources, the government has announced plans to begin borrowing.

In September, more than 137 organizations based in 32 countries endorsed a statement that urged "the government of Timor-Leste to keep the nation debt-free and refrain from borrowing money from international lenders.... to protect its future generations." The groups argue that "Rather than repeat the mistakes of other developing countries that have struggled with debt during recent decades, Timor-Leste should learn from their experiences, which often inflicted great hardships on their people."

Income from oil and gas provides 95% of state revenue, making Timor-Leste the most petroleum-export dependent country in the world. Timor-Leste has not yet borrowed funds from other countries or international financial institutions, but the government has passed laws to enable borrowing. In the 2012 budget, the government has proposed borrowing.

This petition is a joint project of the the Movimento Kontra Deve, a coalition of civil society organizations in Timor-Leste opposed to their country taking out loans, and the East Timor and Indonesia Action Network (www.etan.org), a 20-year old U.S.-based group working in solidarity with the people of Timor-Leste.

Additional background on Timor-Leste and borrowing can be found in English at http://www.laohamutuk.org/econ/debt/09Borrowing.htm and Tetum: http://www.laohamutuk.org/econ/debt/09BorrowingTe.htm

Don't let the bankers occupy Dili. Sign the petition!

1 of 1
No debt for East Timor!
Oppose borrowing by government of Timor-Leste!
East Timor and Indonesia Action Network ETAN is based in New York City, New York, United States of America, and is a Stringer for Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 

Images

 >
 

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.