FSM DEVELOPMENT PARTNERS WELCOME REFORMS

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PALIKIR, Federated States of Micronesia (March 6, 2000 – Radio Australia)---Development partners of the Federated States of Micronesia have vowed to continue economic support, based on the country's commitment to ultimate self-reliance.

The assurances came following the Fourth Consultative Group Meeting for the FSM, which was hosted and chaired by Asian Development Bank Vice President Peter Sullivan in the Philippines capital, Manila.

Meeting participants included officials from China, Japan, New Zealand, the United States, the European Union, the World Bank and the International Monetary Fund.

A communiqué issued after the meeting said substantial public sector reforms, while difficult to implement, have resulted in a strengthening of FSM government finances and improved economic stability.

The communiqué also said that the development partners are pleased with the government's commitment to private sector-led investment.

For the future, it suggested a consolidation of public sector reforms, particularly in the areas of performance-based resource management, tax reforms and more privatization of current government functions.

For additional reports from Radio Australia, go to PACIFIC ISLANDS REPORT News/Information Links: Radio/TV News/Radio Australia.

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