Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Former resistance fighters vie for presidency in East Timor

Published 03/20/2017, 01:51 AM
Updated 03/20/2017, 02:00 AM
© Reuters. East Timor presidential candidate Francisco Guterres of the FRETILIN party shows his ink marked finger after he casts his ballot during the presidential election in Dili, East Timor

By Marcelino Pereira

DILI (Reuters) - People began voting in East Timor on Monday in a presidential election, with the two main parties backing former independence fighters for the largely ceremonial post as Asia's youngest democracy struggles to combat poverty and chronic unemployment.

Lines formed outside polling booths, as voters queued to choose from a field of eight candidates contesting the fourth presidential poll since East Timor won independence from Indonesia in 2002.

The central concern among the country's 1.2 million people has been a failure to spread wealth from oil and gas revenues, with unemployment running at around 60 percent.

Francisco "Lu Olo" Guterres, backed by the party that led the independence struggle, Fretilin, is regarded by many as the frontrunner. He has been endorsed by resistance hero Xanana Gusmao and his CNRT party.

"I want to change the condition of the people in all aspects like in healthcare, education, and a sustainable economic life," Guterres said after casting his vote in the capital Dili.

Analysts said the challenge for any incoming government would be to wean the predominantly Roman Catholic nation away from reliance on oil money and diversify its sources of income into agriculture and manufacturing.

The energy sector accounted for around 60 percent of GDP in 2014 and more than 90 percent of government revenue.

The former Portuguese colony was invaded by neighboring Indonesia in 1975. A 24-year, often violent, resistance movement achieved East Timor's independence in 2002 and many of its key figures still feature prominently in the running of the country.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Monday's election is the first since U.N. peacekeepers left the half-island nation in 2012.

Another leading candidate is Democratic Party politician Antonio da Conceicao. The education minister has secured backing from his own party as well as the newly formed People's Liberation Party (PLP) of the incumbent president Jose Maria de Vasconcelos.

Emerging from one of one of the polling booths, Rita Sera do Carmo, a young woman in her twenties, said she chose da Conceicao.

"He has good plans that I believe can take this country to a better future," she said.

While the president's role is largely ceremonial, it is also seen as important for promoting unity in the young nation.

Vasconcelos, also know by his former guerrilla nickname "Taur Matan Ruak" (two sharp eyes), is expected to run for the more powerful post of prime minister in July's parliamentary poll.

If nobody gets more than 50 percent of the vote, a runoff will be held next month between the two leading candidates.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.