FANDOM


Federated States of Micronesia

Federation
Compact of Free Association
Flag of Micronesia Emblem of Micronesia
Motto
Peace Unity Liberty
Anthem
Patriots of Micronesia
Map of the Federated States of Micronesia
CapitalPalikir
Government Presidential republic
President
- From 2007Manny Mori
Legislature Congress
History
May 10, 1979 Autonomy
November 3, 1986Compact of Free Association effective
July 10, 1987Trust territory dissolved
December 22, 1990Security Council ratifies termination
May 1, 2004Compact of Free Association extended
Area702 km²
Population
- 2009111,000
 Density158.1/km²
GDP2009 (PPP)
- TotalUS$ 0.2 billion
- Per capitaUS$ 2,664
CurrencyUnited States dollar
Flag of the Trust Territory of the Pacific Islands Pacific Islands
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The Federated States of Micronesia is a federal republic in Micronesia. Under the Compact of Free Association it has entered into a relationship as an associated state with the United States. It comprises the states of Yap, Chuuk, Pohnpei and Kosrae.


Background

In 1979 the Federated States of Micronesia, a UN Trust Territory under US administration, adopted a constitution. In 1986 independence was attained under a Compact of Free Association with the US, which was amended and renewed in 2004. Present concerns include large-scale unemployment, overfishing, and overdependence on US aid.[1]

Economy

Economic activity consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remote location, a lack of adequate facilities, and limited air connections hinder development. Under the original terms of the Compact of Free Association, the US provided $1.3 billion in grant aid during the period 1986-2001; the level of aid has been subsequently reduced. The Amended Compact of Free Association with the US guarantees the Federated States of Micronesia (FSM) millions of dollars in annual aid through 2023, and establishes a Trust Fund into which the US and the FSM make annual contributions in order to provide annual payouts to the FSM in perpetuity after 2023. The country's medium-term economic outlook appears fragile due not only to the reduction in US assistance but also to the current slow growth of the private sector.[2]

President

  • Manny Mori () (May 11, 2007 - )



Nation

Micronesian Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

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