FSM hosts initial JEMCO meeting

PALIKIR, Pohnpei (FSM Information Services): August 26, 2003 – The initial meeting of the United States and the Federated States of Micronesia Interim Joint Economic Management Committees (“Interim JEMCO”) is scheduled for August 26 2003, in Palikir.

The meeting is scheduled from 8:30am until 5:00pm in the President’s Cabinet meeting room. Participants of the meeting will include the Interim JEMCO/FSM and members of the U.S. JEMCO team.

The stated purpose for the meeting is to “review and approve grant allocations and performance objectives for Fiscal year 2004” for the Governments of the FSM. The provisional action is in anticipation of the implementation of the Amended Compact of Free Association between the US and the FSM once ratified by two respective governments.

The FSM’s interim JEMCO group held internal meetings on Saturday and Sunday to coordinate and “make recommendations on finalizing the FSM’s positions on the proposed sectoral budget and performance objectives for FY 2004.”

In preparation for the meeting between the FSM and the US, the National Department of Finance and Administration had, during the latter part of July, sponsored a two-week conference in Palikir for all the financial directors and planners of the five state governments to structure more stringent fiscal guidelines for the FSM under the Amended Compact. The conference had brought together and consolidated the final request for submission and in addition, addressed the range of implementation issues anticipated under the Amended Compact.

The proposed agenda for the US-FSM initial JEMCO meeting includes the following items:

  • updates on the status of Compact legislation (US and FSM Congress and State legislatures);

  • updates on status of Trust Fund and Joint Trust Fund Committee;

  • Sectoral budgets and performance plans(Education, Health, Public Sector Infrastructure Development, Environment, Public Sector Capacity Building Grant and Private Sector Development Grant);

  • Review of JEMCO decisions and program of work, the role of Office of Insular Affairs and role of FSM-JEMCO Secretariat, and other items as needed.