Palikir, Pohnpei — On September 14, 2023, The FSM Vice President, The Honorable Aren B. Palik received Executive Director, Mr. Robert Nicholl from the IMF. Vice President Palik welcomed Mr. Nicholl to the FSM and extended greetings on behalf of His Excellency Simina and the people of FSM. Mr. Nicholl’s visit to the FSM is a great gesture of IMF’s commitment and support to the FSM and the region as a whole. Vice President expressed FSM’s gratitude toward the assistances received from the IMF in the areas of customs and tax, banking supervision, statistics, and technical expertise through the Pacific Financial Technical Assistance Center (PFTAC) which is based in Suva, Fiji. Mr. Nicholl is representing the interests of the FSM at the Board of Directors at IMF.
The International Monetary Fund (IMF) is an organization of 190 countries where its mission is “To promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty…”. The FSM became a member of International Monetary Fund (IMF) in 1993.
Discussions were mainly focused on challenges that the FSM is facing such as development challenges and climate change. Both parties are enthusiastic in collaborating with each other into the future.