Friday 11 April 2014

Is Timor-Leste really a rich country?


I just want to point out one important thing. 

Everyone in Timor-Leste, including our leaders, think that Timor-Leste is a rich country endowned with abundant natural resources such as oil and gas. 
This is actually not true. 

In fact comparing to other countries, Timor-Leste does not produce much oil and gas, but it is the second most dependent oil country in the world, after South Sudan. 

This is a proven fact. 

The true fact is that Timor-Leste is not rich as everyone thinks. 
It is better to acknowlege and tell the public that we are not that rich, so that we would be careful in our spending, otherwise we spend reclessly knowing falsely that we are so rich.


BARRIERS TO LONG-TERM FINANCING AT AFFORDABLE RATES: INTRODUCING A NATIONAL DEVELOPMENT BANK TO SUPPORT TIMOR-LESTE PRIVATE SECTOR DEVELOPMENT

BARRIERS TO LONG-TERM FINANCING AT AFFORDABLE RATES: INTRODUCING A NATIONAL DEVELOPMENT BANK TO SUPPORT TIMOR-LESTE PRIVATE SECTOR DEVEL...