Don't Let the Bankers Occupy Timor - Sign the petition For Debt-Free Timor-Leste

Sign the petition: 
<http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html>http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html

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." 
http://etan.org/news/2011/08debt.htm

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

Sign the petition: 
<http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html>http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html

Petition Text

We, the undersigned, urge the government of Timor-Leste to keep the 
nation debt-free and refrain from borrowing from international lenders.

We come from many countries, including those that have experienced 
onerous conditions that placed a priority on repaying loans over the 
needs of our people. Others of us come from nations that have imposed 
those conditions.

We have seen how too many developing countries have struggled with 
debt. We urge Timor-Leste to learn from their experiences.

Despite Timor-Leste's current petroleum wealth, when Timor-Leste's 
oil and gas run out in less than 15 years and loans still must be 
repaid, Timor-Leste's children and grandchildren will suffer the consequences.

Sign the petition: 
<http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html>http://www.gopetition.com/petitions/support-a-debt-free-timor-leste.html

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John M. Miller, National Coordinator
East Timor & Indonesia Action Network (ETAN)
PO Box 21873, Brooklyn, NY 11202-1873 USA
Phone: +1-718-596-7668 Mobile phone: +1-917-690-4391
Email: john@etan.org Skype: john.m.miller

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