JEMCO Discusses FSM’s Long Term Fiscal Plans at Midyear Meeting

Palikir, Pohnpei – On March 14, 2013 the Joint Economic Management Committee met in San Francisco for its midyear meeting. The Committee, commonly known as “JEMCO”, discussed a range of issues which included updates on the ongoing budget development for FY2014 and compliance with guidelines previously issued by the Committee for the implementation of nationwide initiatives in the Health and Education Sectors.

The highlight of the meeting was a presentation by the FSM Delegation on the recently concluded Long Term Fiscal Framework (LTFF) Plans for the State Governments. Concerns were raised by the US delegation regarding the status of the National Government’s LTFF Plan. The FSM members of JEMCO, Foreign Affairs Secretary Lorin S. Robert and SBOC Director Evelyn Adolph, indicated that the National Government will be undertaking in collaboration with the States Governments a comprehensive planning process in the context of the 2023 Planning Committee. There is substantial overlap between the mandate of the 2023 Planning Committee and what is called for in the JEMCO resolution mandating the LTFF Plan. The newly established committee will undertake and conclude its work over the course of the next 12 months. A further status update on this process will be presented to JEMCO at its Annual Meeting later this year.

Other issues discussed included the status of NDOE’s National Minimum Competency Testing schedule and accreditation process, a brief update by the US GAO on its ongoing assessment of implementation of the Amended Compact, recommendations on implementation of Public Infrastructure funds and expectations for the FY2014 budget utilizing Amended Compact funds. No resolutions were passed by JEMCO at this meeting.

For further information, please visit the Office of Statistics, Budget and Economic Management, Overseas Development Assistance & Compact Management (SBOC) website at www.sboc.fm or contact the SBOC Division of Compact Management at (691) 320-6260 or email Assistant Director for Compact Management, Ms. Suzanne Lowe Gallen at slowe@sboc.fm.