Timor-Leste: East Timor is Going for Broke as Oil Runs out

Dec 7, 2016 | Damon Evans, Forbes
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East Timor could be bankrupt within a decade unless it takes urgent action to diversify its economy and reassess its fixation with mega-petroleum projects. Significantly, the fledgling nation is almost entirely dependent on petroleum revenues. But its oil and gas income peaked in 2012 and continues to fall.