Mon, 16 July 2012
Part one of three
Charles Scheiner and Juvenal are researchers for the Lao Hamutuk ("Walking Together) NGO in Timor Leste. For many years Lao Hamatuk has been monitoring the governance of Timor Leste. Among other things, they look at how TL spends its oil revenues, which come from exporting the nonrenewable oil and gas reserves under the Timor Sea. Returns on investing the Petroleum Fund are only about one-tenth of the royalties and revenues paid by oil companies. As the oil and gas reserves are depleted, and oil revenues fall, investment returns will not be nearly enough to sustaining TL's state spending. For more details, seehttp://laohamutuk.blogspot.com/2012/05/how-timor-leste-got-ten-billion-dollars.html .
At the time of the 2012 general elections they are particularly critical of the government of the past five years, and concerned that the incoming government review its spending priorities.
The Lao Hamatuk website can be found at http://www.laohamutuk.org/