Micronesian Counselor, Issue 44

Hezel, Francis X. (2003-01-15). Micronesian Counselor, Issue 44. Micronesian Counselor (Report). Kolonia, Pohnpei: Micronesian Seminar. pp. 1–8.

• Has attachment: File:BWPINHIY.pdf

Abstract: The lead article, Rough Seas Ahead: The FSM Economy During Compact II, by Francis X. Hezel, S.J., assesses the state of the FSM economy at the outset of the second Compact funding period. It recounts the optimism of the 1986 signing and contrasts it with the present challenges of declining U.S. grants, limited private-sector growth, and persistent fiscal dependence. The essay raises concerns about whether new financial arrangements will generate sustainable development.

Additional content includes discussion of public service downsizing in Pohnpei and Chuuk, infrastructure funding priorities in Kosrae and Yap, and comparisons with economic planning in the Marshall Islands. The issue also features a short piece on cultural celebrations tied to national milestones, noting how symbols of sovereignty have outpaced material progress.