Micronesia 1998

Micronesia Capital

According to Countryaah, the capital of Federated States of Micronesia is Palikir. In October 1982, the United States signed a Free Association Agreement with the island states of Marshall, Northern Mariana Islands and Micronesia, after which they were given control over their domestic policies, while the United States continued to take care of defense and security. In 1983, the treaty was ratified in both countries, and in October 1986, US President Reagan officially declared the administration of the superpower of Micronesia. However, the superpower retains responsibility for defense and foreign policy.

At the United Nations 46th General Assembly on September 17, 1990, Micronesia and six other states were included in the World Organization, whose membership rose to 166.

At the end of the year, Hurricane “Owen” destroyed the homes of 4,500 people and destroyed 90% of the crops.

At the March 1991 parliamentary elections, incumbent President John Haglelgam lost his party, thereby preventing him from running for the next presidential election. In May, Bailey Olter was elected new president.

  • Abbreviationfinder: What does FM stand for in geography? Here, this 3 letter acronym refers to the country of Micronesia.

In April 1992, the government declared a state of emergency to address the consequences of a severe drought. The following year, the country joined the IMF, which, according to President Olter, was part of a strategy to solve the problems created by the drought.

Micronesia Capital

Demography and economic geography. – Island state of Oceania, in the southwestern Pacific Ocean. The 2014 population was 513,872, according to an estimate by UNDESA (United Nations Department of Economic and Social Affairs), only 22.7% urbanized. The emigration rate is among the highest in the world (−20.93 ‰). Socio-economic data are critical: unemployment is 16.2% (2010) and access to health services is guaranteed only for 57% of the residents. International aid, ensured by the Compact of Free Association with the United States for the period 2004-24, covers more than a third of GDP, calculated in 2014 at 339 million dollars.

History. – At the end of the first decade of the 21st century, Micronesia continued to face critical issues such as a very fragile economy – largely dependent on foreign aid and the public sector -, the lack of infrastructure, corruption and a poor context. attractive for investments. The 2004 renewal of the Free Association Pact with the United States guaranteed a new 20-year financial assistance plan from Washington; in a report published in 2011, however, the IMF stressed the need for economic and fiscal interventions to reduce the impact on the country of the end of the program, an essential source of revenue for Micronesia. In this perspective, in 2014 a special commission developed the 2023 Action plan, which outlined the reforms to be implemented to ensure the country’s economic and fiscal stability. In the same year, a Country partnership strategy was also announced between Micronesia and the World Bank for the period 2014-17, with the aim of addressing the problems of the lack of job opportunities and access to services.

In terms of internal politics, in 2007 the Parliament elected Emanuel Mori as President of the Republic, who was confirmed in 2011, while in May 2015 Peter Christian was elected. In foreign policy, in addition to relations with the United States, Micronesia cultivated her relations with China; the country was also actively engaged in raising awareness of the issues of climate change and rising water levels, which threatened its future.