Guam – U.S. Government officials and representatives from the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands (RMI) will be meeting this week in Hawaii at the annual Joint Economic Management Committee (JEMCO) and the Joint Economic Management and Financial Accountability Committee (JEMFAC).
The meetings will take place from tomorrow, [Wednesday September 1] through Saturday at the Topa Financial Center in Honolulu, Hawaii
The aim is to evaluate FSM and RMI progress in achieving the objectives specified within their development plans, implementation of economic policy reforms, progress toward budgetary self-reliance and long-term economic advancement.
The JEMCO and JEMFAC were established under the 2003 Amended Compact agreements between the U.S and the RMI and FSM, respectively, to strengthen management and accountability of U.S. assistance and to promote the effective use of compact funding. Each committee has five members, three from the United States and the other two from the FSM for JEMCO and from the RMI for JEMFAC.
The Departments of the Interior, State, and Health and Human Services represent the three U.S. members. Interior representative from the Office of Insular Affairs, Mr. Nikolao Pula presides as Chairman. Other officials in attendance include: Hon. Anthony M. Babauta, Assistant Secretary for Insular Areas, H.E. Peter A. Prahar, U.S. Ambassador to the FSM and H.E. Martha Campbell, U.S. Ambassador to the RMI. The 2010 Honolulu meetings marks the seventh convening of JEMCO and JEMFAC.