ust funds to help cushion
the transition and provide for Nauru's economic future. As a result
of heavy spending from the trust funds, the government faces virtual
bankruptcy. To cut costs the government has called for a freeze on
wages, a reduction of over-staffed public service departments,
privatization of numerous government agencies, and closure of some
overseas consulates. In recent years Nauru has encouraged the
registration of offshore banks and corporations. In 2004 the
deterioration in housing, hospitals, and other capital plant
continued, and the cost to Australia of keeping the government and
economy afloat has substantially mounted. Few comprehensive
statistics on the Nauru economy exist, with estimates of Nauru's GDP
varying widely.

Navassa Island
subsistence fishing and commercial trawling
activities within refuge waters

Nepal
Nepal is among the poorest and least developed countries in
the world with 40% of its population living below the poverty line.
Agriculture is the mainstay of the economy, providing a livelihood
for over 80% of the population and accounting for 40% of GDP.
Industrial activity mainly involves the processing of agricultural
produce including jute, sugarcane, tobacco, and grain. Security
concerns in the wake of the Maoist conflict have led to a decrease
in tourism, a key source of foreign exchange. Nepal has considerable
scope for exploiting its potential in hydropower and tourism, areas
of recent foreign investment interest. Prospects for foreign trade
or investment in other sectors will remain poor, however, because of
the small size of the economy, its technological backwardness, its
remoteness, its landlocked geographic location, its civil strife,
and its susceptibility to natural disaster.

Netherlands
The Netherlands has a prosperous and open economy, which
depends heavily on foreign trade. The economy is noted for stable
industrial relations, moderate unemployment and inflation, a sizable
current account surplus, and an important role as a European
transportation hub. Industrial activity is predominantly in food
processing, chemicals, petroleum refining, and electrical machinery.
A highly mechanized agricultural sector employs no more than 4% of
the labor force but provides large surpluses for the food-processing
industry and for exports. The Netherlands, along with 11 of its EU
partners, began c