FSM private sector hunkers down as Compact funding tightens

FSM private sector hunkers down as Compact funding tightens

BY JOHN I. BORJA

Journal staff

  With a little more than five years left of U.S. Compact assistance and tighter rules for its usage, the Federated States of Micronesia is looking at how it can keep its economy stable with domestic resources.

  The FSM consists of Chuuk, Kosrae, Pohnpei and Yap. Outside of Compact funding, the economy consists primarily of subsistence farming and fishing.

  The Joint Economic Management Committee, which keeps a watchful eye over funding through Compact assistance . . .

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