[Deuda-QdQ] Rv: [IllegitimateDebt-Campaign-News] Please support the call for aDebt-Free East Timor!

Vie Ago 26 10:37:37 CEST 2011

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Iolanda

-- 
Iolanda Fresnillo
Observatori del Deute en la Globalització
www.odg.cat
iolanda.fresnillo en odg.cat
93 301 17 93
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08010 Barcelona

-----Original Message-----
From: lnacpil en gmail.com
Date: Fri, 26 Aug 2011 01:19:49 
To: <illegitimatedebt-campaign-news en lists.democracyinaction.org>
Subject: [IllegitimateDebt-Campaign-News] Please support the call for a
 Debt-Free East Timor!

Dear friends and colleagues -

Please find below a sign-on statement initiated by East Timor organizations
and movements with support from international allies. It is addressed to the
government of East Timor. We urge you to join the list of signatories.

Many thanks,

Lidy

For a Debt-Free East Timor!

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

We do not take this position to hold Timor-Leste back, but to protect its
future generations. 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. This is especially important because of Timor-Leste’s high
dependence on exporting non-renewable oil and gas wealth, a resource which
will run out soon.

More than thirty years ago, lenders made loans to developing countries,
creating unsustainable debt and causing the "debt crises" of the 1980s and
1990s. Today, creditors continue to drain scarce resources that could have
been spent on essential services like health care, education, water and
sanitation. International financial institutions - like the IMF and the
World Bank - forced countries which owed them money to implement so-called
austerity measures, demanding cuts in public services in order to repay
debt. This has included the privatization of state services like water and
electricity.

The poorest and most vulnerable members of society have been forced to pay
more for essential services, and salaries of public servants have been
lowered. Even when loans are made at concessional interest rates, borrowing
countries are legally obligated to repay the principal before spending money
on their people’s needs.

Some argue that revenue from Timor-Leste’s oil and gas wealth can provide a
cushion against which to borrow. History proves such thinking is wrong. The
more oil a country produces and the greater its dependence on petroleum
exports, the more debt that country is likely to accumulate – and
Timor-Leste today is the most petroleum-export-dependent country in the
world, with oil and gas providing 95% of state revenues.

Oil prices and interest rates are very volatile and beyond Timor-Leste’s
control, leaving it especially at risk, as petroleum revenues will decline
and interest rates may rise while loans are still being paid back. When
Timor-Leste's oil and gas run out in less than 15 years, and debts still
must be repaid, Timor-Leste’s children and grandchildren will suffer the
consequences.

In most developing countries with oil resources, worsening economic and
development conditions with little long term benefit are the result,
including increased conflict, impoverishment, and corruption. Timor-Leste
should avoid such a tragedy by learning from other’s experiences, not
repeating them.  The Democratic Republic of Timor-Leste began life in 2002
without owing money to anyone. For the sake of an equitable, prosperous, and
environmentally sound future for today’s and tomorrow’s children,
Timor-Leste should remain debt-free.

We urge Timor-Leste’s leaders and international institutions to use other
ways to finance the country’s much-needed development.

East Timor

 La'o Hamutuk

Hasatil (Haburas Agrikultura Sustentavel Timor-Leste)

ETADEP (East Timor Development Action and Peace)

Haburas Foundation

Mata Dalan Institute (MDI)

Ponta-Leste Watch((PLW)

Community Development Interest (CDI)

Movimento Kontra Deve (KONDENA)

Fundasaun Mahein

Instituisaun Edukasaun Popular (IEP)

Front Mahasiswa Timor-Leste

Movimentu Estudantes Fakuldade  Ekonomia -Timor-Leste (MEFE-TL)

KNUA HABERAN COMUNIDADE (KHC)

 International and other Countries:

East Timor and Indonesia Action Network (ETAN), USA

Jubilee South Asia Pacific Movement on Debt and Development (JSAPMDD)

Sustainable Energy & Economy Network/Institute for Policy Studies

 USAAidwatch, AustraliaProceso de Comunidades Negras (Palenke Alto Cauca)
Colombia

Civil Society Forum for Climate Justice, Indonesia

JATAM (Jaringan Advokasi Tambang)/ Indonesia Mining Advocacy Network

JATAM/Friends of Earth (FoE) of East Java

Pantau Foundation, Indonesia

WALHI - Friends of The Earth Indonesia

Jamaa Resource Initiatives, Kenya

Foundation ProPapua, The Netherlands

Swedish East Timor Committee

Justice for Palestine Matters, Sydney, Australia

Jubilee USA Network

Jubilee NW, USA

Baltimore Nonviolence Center, USA

Global Network Against Weapons & Nuclear Power in Space

Green Delaware , USA

EARTH (Ecological Alert and Recovery-Thailand)

-- 
Lidy Nacpil
Coordinator
Jubilee South - Asia/Pacific Movement on Debt & Development (JSAPMDD)
Telefax 632-9253036
34 Matiyaga Street, Central District, Quezon City, Philippines 1100

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