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Federated States of Micronesia

Federated States of Micronesia Micronesia in Review: Issues and Events, 1 July 2005 to 30 June 2006 Reviews of Kiribati, the Marshall Islands, and Nauru are not included in this issue. In this report, I discuss the progress of the painful public-sector reforms instituted after the third step-down in Compact I funding in order to stimulate private sector growth in the FSM national economy. I touch on the role of politics in scaling back these reforms. In addition, I address the ever-present tension between the two political branches of the national government. Rather than discuss the progress of issues in much detail, this report summarizes the important economic and political issues taking place during the reporting period. For the past several years, the main concern for leaders in the Federated States of Micronesia has been the country's slow (perhaps too slow) progress in economic development. To kick-start the economic development program, the Third FSM Economic Summit approved a strategy developed by the Economic Management Policy and Advisory Team (empat) that would encourage growth in the private sector of the economy. The summit, which was held in 2004 as the concluding act of the empat group, followed in the wake of the politically http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Contemporary Pacific University of Hawai'I Press

Federated States of Micronesia

The Contemporary Pacific , Volume 19 (1) – Jan 17, 2007

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Publisher
University of Hawai'I Press
Copyright
Copyright © 2007 University of Hawai'i Press.
ISSN
1527-9464
Publisher site
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Abstract

Micronesia in Review: Issues and Events, 1 July 2005 to 30 June 2006 Reviews of Kiribati, the Marshall Islands, and Nauru are not included in this issue. In this report, I discuss the progress of the painful public-sector reforms instituted after the third step-down in Compact I funding in order to stimulate private sector growth in the FSM national economy. I touch on the role of politics in scaling back these reforms. In addition, I address the ever-present tension between the two political branches of the national government. Rather than discuss the progress of issues in much detail, this report summarizes the important economic and political issues taking place during the reporting period. For the past several years, the main concern for leaders in the Federated States of Micronesia has been the country's slow (perhaps too slow) progress in economic development. To kick-start the economic development program, the Third FSM Economic Summit approved a strategy developed by the Economic Management Policy and Advisory Team (empat) that would encourage growth in the private sector of the economy. The summit, which was held in 2004 as the concluding act of the empat group, followed in the wake of the politically

Journal

The Contemporary PacificUniversity of Hawai'I Press

Published: Jan 17, 2007

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