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Careers, Jobs and Education Resources for: Micronesia, Federated States of


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. (from the CIA)
 
 

 

Economic Overview

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.

Environmental Issues

Overfishing, climate change, pollution

Government Type

Constitutional government in free association with the us; the compact of free association entered into force 3 november 1986 and the amended compact entered into force may 2004

Population

107,665 (july 2008 est.)

Location

Oceania, island group in the north pacific ocean, about three-quarters of the way from hawaii to indonesia

Area

Total: 702 sq km land: 702 sq km water: 0 sq km (fresh water only) note: includes pohnpei (ponape), chuuk (truk) islands, yap islands, and kosrae (kosaie)

Four times the size of washington, dc (land area only)

Country Aliases

Conventional long form: federated states of micronesia conventional short form: none local long form: federated states of micronesia local short form: none former: trust territory of the pacific islands, ponape, truk, and yap districts abbreviation: fsm

Capital

Name: palikir geographic coordinates: 6 55 n, 158 09 e time difference: utc+11 (16 hours ahead of washington, dc during standard time)

International Disputes

None

Sources: Central Intelligence Agency (CIA)

0 Micronesia, Federated States of Jobs Found



 
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