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righthandfollowshare
9-28-2007 5:09 PM
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righthand says:
"Ecuador is drowning in foreign debt and must devote an inordinate share of its national budget to paying this off, instead of using its capital to help the millions of its citizens officially classified as dangerously impoverished.

The only way Ecuador can buy down its foreign obligations is by selling its rain forests to the oil companies.

"For every $100 of crude taken out of the Ecuadorian rain forests, the oil companies receive $75. Of the remaining $25, three-quarters must go to paying off the foreign debt.

"Most of the remainder covers military and other government expenses — which leaves about $2.50 for health, education and programs aimed at helping the poor."
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