e Association entered into force 3 November 1986
Capital:
Kolonia (on the island of Pohnpei); note - a new capital is being built
about 10 km southwest in the Palikir valley
Administrative divisions:
4 states; Kosrae, Pohnpei, Chuuk, Yap
Independence:
3 November 1986 (from the US-administered UN Trusteeship; formerly the
Kosrae, Pohnpei, Truk, and Yap districts of the Trust Territory of the
Pacific Islands)
Constitution:
10 May 1979
Legal system:
based on adapted Trust Territory laws, acts of the legislature, municipal,
common, and customary laws
National holiday:
Proclamation of the Federated States of Micronesia, 10 May (1979)
Executive branch:
president, vice president, Cabinet
Legislative branch:
unicameral Congress
Judicial branch:
Supreme Court
Leaders:
Chief of State and Head of Government:
President Bailey OLTER (since 21 May 1991); Vice President Jacob NENA (since
21 May 1991)
Political parties and leaders:
no formal parties
Suffrage:
universal at age 18
Elections:
President:
last held ll May 1991 (next to be held March 1995); results - President
Bailey OLTER elected president; Vice-President Jacob NENA
Congress:
last held on 5 March 1991 (next to be held March 1993); results - percent of
vote NA; seats - (14 total)
Member of:
ESCAP (associate), ICAO, SPC, SPF, UN, UNCTAD
Diplomatic representation:
Ambassador Jesse B. MAREHALAU; Embassy at 1725 N St., NW, Washington, DC
20036; telephone (202) 223-4383
US:
Ambassador Aurelia BRAZEAL; Embassy at address NA, Kolonia (mailing address
is P. O. Box 1286, Pohnpei, Federated States of Micronesia 96941); telephone
691-320-2187; FAX 691-320-2186
Flag:
light blue with four white five-pointed stars centered; the stars are
arranged in a diamond pattern

:Micronesia, Federated States of Economy

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 remoteness
of the location and a lack of adequate facilities hinder development.
Financial assistance from the US is the primary source of revenue, with the
US pledged to spend $1 billion in the islands in the l990s. Geographical
isolation and a poorly developed infrastructure are major impe