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Nauru

Yearbook 2009

Nauru. In January, the Asian Development Bank (ADB) gave the Naurus government a $ 225,000 grant to start a trust fund. The idea is for the fund to raise capital that will go towards the country's development. According to countryaah, the money from ADB will also be used to develop the state financial system. This is the first direct aid to Nauru since the indebted country was close to bankruptcy in 2004 and the Australian government took over the finances and saved the economy. The Naurus government has since reformed state-owned companies, cut the number of government employees and lowered their salaries, which has strengthened the economy.

2009 Nauru

As late as the 1970s and 1980s, Nauru, thanks to its phosphate assets, was a welfare state with one of the world's highest per capita incomes. But the export of phosphate, which is used as a fertilizer, had decreased sharply in the early 2000s when the phosphate began to run out. In 2008, phosphate mining resumed on a small scale, but Nauru is still dependent on foreign aid to meet state spending.

In February, President Marcus Stephen said that the government would invest in increased openness and information to the public in order to increase transparency and thus overcome the widespread corruption. Stephen made the statement in connection with the inauguration of a seminar on freedom of information. He suggested that it may be relevant to legislate on freedom of information.

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