PALIKIR, POHNPEI. September 28, 2020 - At the end of Week-Two of its 5th Regular Session, the 21st Congress passed a National Government Budget for Fiscal Year 2021.
The Congress have been holding virtual sessions, hearings and meetings online since the COVID-19 lockdown in March 2020. Following months of virtual public hearings and online oversights, the Congress of the Federated States of Micronesia has passed a $63,760,467 National Government Budget for FY-2021. It becomes the first National Budget to undergo a budget process that was deliberated virtually across the four states and the U.S. territory of Guam and eventually consolidated online into Congressional Act (CA) 20-193.
Another measure of Week-Two called for the increase of the membership quota paid by the FSM to the International Monetary Fund (IMF) by an additional 2,100,000 Special Drawing Rights (SDR). The SDR is an international reserve asset created by the IMF to supplement its member countries’ official reserves. Through CA 20-195, the Congress authorized the increase of the Nation’s quota from SDR 3,500,000 to SDR 7,200,000
The remaining Acts from Week-Two are to address funds previously appropriated for public funds and social programs in the different states, and they included:
CA 21-190, changed the allottees of funds previously appropriated for public projects and social programs in the states of Chuuk and Pohnpei;
CA 21-191 and CA 21-194, made changes to allottees of certain funds previously appropriated for Priority Infrastructure Projects in Chuuk State:
CA 21-192, changed the use of certain funds previously appropriated for public projects and social programs in Yap State;
CA 21-196 and CA 21-199, changed the use of certain funds previously appropriated for public projects and social programs in Pohnpei State;
CA 21-197, changed the lapse date of certain funds previously appropriated to fund public projects and social programs in Chuuk State;
CA 21-198, changed the use of certain funds previously appropriated for public projects and social programs in Kosrae State; and finally
CA 21-200, changed the use and allottees of funds previously appropriated for Priority Infrastructure Projects and other programs in the states of Chuuk and Pohnpei.
The 5th Regular Session of the 21st Congress is scheduled for 20 days, to end on October 3rd, but may be shortened or extended through resolution.
With respect to the advisories from the State Governments and the FSM National Government discouraging public gathering and encouraging social distancing, the 5th Regular Session of the 21st Congress is closed to the general public.
The public is however invited to follow the daily sessions which are streamed live at the Congress website: www.cfsm.gov.fm.
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