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The Federated States of Micronesia (/ ˌ m aɪ k r oʊ ˈ n iː ʒ ə / ⓘ, abbreviated FSM), or simply Micronesia, is an island country in Micronesia, a subregion of Oceania.The federation consists of four states—from west to east: Yap, Chuuk, Pohnpei, and Kosrae—that span across the western Pacific just north of the equator, for a longitudinal distance of almost 2,700 km (1,700 mi).
The economic activity of the Federated States of Micronesia consists primarily of subsistence agriculture and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development.
The following de facto states do not maintain stock exchanges: Abkhazia Kosovo Northern Cyprus Sahrawi Arab Democratic Republic Somaliland South Ossetia Transnistria; A number of Caribbean countries are served by the Eastern Caribbean Securities Exchange (ECSE), based in Basseterre, Saint Kitts and Nevis. Thus, there is no individual stock ...
The Federated States of Micronesia are located in the region known as Micronesia, which consists of hundreds of small islands divided in seven territories. The term Micronesia may refer to the Federated States or to the region as a whole, even though the lack of a central government makes it a sovereign group of states, not a country .
In the Federated States of Micronesia, education is required for citizens aged 6 to 13, [70] and is important to their economy. [71] The literacy rate for citizens aged 15 to 24 is 98.8%. [ 72 ] The College of Micronesia-FSM has a campus in each of the four states with its national campus in the capital city of Palikir , Pohnpei .
Yap State is one of the four federal states of the Federated States of Micronesia. As a democratic federation, each state can retain a large amount of power within the state as well as a certain level of sovereignty typical of federal states. As such, the State adheres to the FSM National and Yap State constitutions to develop policies and ...
Department of Finance and Administration of the Federated States of Micronesia is a government department in the Micronesia responsible for effective management of public financial assets, strengthening tax collection, maximizing investments and maintaining border control of Micronesia.
Before the end of the gold standard, gold was the preferred reserve currency. Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is ...