ce 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 11 May 1991); Vice President Jacob NENA (since 11 May 1991)

_#_Political parties and leaders: no formal parties

_#_Suffrage: universal at age 18

_#_Elections:

President--last held 5 March 1991 (next to be held March 1994);
results--Vice President Bailey OLTER elected president;

Congress--last held on 5 March 1991 (next to be
held March 1993);
results--percent of vote NA;
seats--(14 total)

_#_Communists: none

_#_Member of: ESCAP (associate), ICAO, SPC, SPF, UN

_#_Diplomatic representation: Ambassador Jesse B. MAREHALAU;
Embassy at 706 G Street SE, Washington DC 20003; telephone (202)
544-2640;

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

_#_Flag: light blue with four white five-pointed stars centered; the
stars are arranged in a diamond pattern

_*_Economy
_#_Overview: Financial assistance from the US is the primary source
of revenue, with the US pledged to spend $1 billion in the islands in the
1990s; also in December 1990 the US authorized the use of disaster
relief funds for Micronesia because of damage from Typhoon Russ.
In addition Micronesia earns about $4 million a year in fees from foreign
commercial fishing concerns. 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 fac