Federated States of Micronesia
Compact of Free Association
Peace Unity Liberty
Patriots of Micronesia
|- From 2007||Manny Mori|
|- May 10, 1979||Autonomy|
|- November 3, 1986||Compact of Free Association effective|
|- July 10, 1987||Trust territory dissolved|
|- December 22, 1990||Security Council ratifies termination|
|- May 1, 2004||Compact of Free Association extended|
|- Total||US$ 0.2 billion|
|- Per capita||US$ 2,664|
|Currency||United States dollar|
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.
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.
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.
- Manny Mori (₩) (May 11, 2007 - )
- United States: Trust Territory of the Pacific Islands (1947-1987)
- Empire of Japan: Mandate of the South Seas Islands (1920-1947)
- Marshall Islands (Compact of Free Association)
- Solomon Islands (Commonwealth realm)
- Palau (Compact of Free Association)
- Papua New Guinea (Commonwealth realm)
- United States (Territories)