Hundreds of Trillion Rupiahs Endowment Funds Seem Meaningless, Timor Leste is Predicted to be a Dead Country in 10 Years, Xanana Gusmao: We'd Better Run
Hundreds of Trillion Rupiah Endowment Funds Seem Meaningless, Timor Leste is Predicted to be a Dead Country in 10 Years. The history of independent Timor Leste began in 1999, when a referendum on the secession of East Timor was permitted by President BJ Habibie. It was only on May 20, 2002, that the state of Timor Leste was formed as a country with full sovereignty, independent of the Republic of Indonesia. Years after independence, the former Prime Minister of Timor Leste, Xanana Gusmao exposed the country's main problem, poverty. Gusmao admitted that he was pessimistic that the people of Timor Leste would get out of the poverty crisis zone. He revealed that Timor Leste has an endowment fund with a nominal value of hundreds of trillions of rupiah. The funds, he said, are now stored in the Bank of New York, United States. However, he said, even though hundreds of trillions of rupiah were disbursed, Timor Leste would be a dead country in the next 10 years. According to T