Introduction The all too common view, the Secretary said, is that time is quickly running out on us. Seven of the 15 years of the Compact period are gone; there are eight left. With almost half of the time gone, what do we have to show for the Compact? Is there any real hope that …
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What’s the Fishing Industry Doing for FSM?
Fr. Fran Hezel, Director of the Micronesian Seminar, introduced the subject by situating it in the context of the development needs of the FSM. We are now in Year 7 of the 15-year Compact period for FSM. Compact Funding for the FSM Government's operational expenses has already dropped from $36 million a year (in 1982 …
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Economic Development in Yap
Reflection Weekend on Yap October 6, 1990 The one-day workshop began with a case study, a development proposal for a fish cannery that would be financed by foreign investors and employ 300 people. The participants, about 45 people including a good number of high government employees, briefly discussed the pros and cons of this proposal.Several …
Revenue Sharing Between the States and National Government
The Financial Situation at Present To provide necessary background information, Nick Andon from the FSM Budget Office presented on the current financial situation of the FSM national government. The national government, which receives 12.5% of the Compact funds each year, has a healthy balance in the form of $13 million in unspent funds from previous …
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The YTK Proposal and the Future of Fishing in Pohnpei
Background Some months ago YTK Corporation offered a unsolicited proposal to Pohnpei State to invest a total of $460 million for a three-phase development project located on Dekehtik Island. The first phase of the project, scheduled to begin next year, is aimed at the renovation and expansion of the dock and establishing fisheries facilities nearby. …
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What Can We Do to Promote Private Business
Introduction The moderator reviewed the facts regarding the situation in which FSM now finds itself. The government is halfway through the Compact funding period. It has already felt the impact of the first step-down in funding and will feel the effects of the second step-down in another three years. Meanwhile, the economy of the FSM …
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The FSM Foreign Debt
How Big is the Debt? In recent months the FSM foreign debt has come to the attention of the public through press reports and newspaper articles. The purpose of this discussion was to shed light on the question so that the public might have a more accurate and detailed understanding of the true financial standing …
Is There a Place for Foreigners in Micronesia Today?
Introduction There are some 1500 non-Micronesians residing in the FSM today. Nearly all, of course, are employees or their dependents, although there are a smattering of US, Japanese and Australian volunteers, diplomats, and missionaries of various kinds. Some have been residents of Micronesia for many years. What brings foreigners to the FSM? There are probably …
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