Government of the Federated States of Micronesia

Nena Appointed Members of FSM Banking Board

PALIKIR, Pohnpei (FSM Information Service): November 12,
1997 – President Jacob Nena, on October 29, 1997, informed
Congress Speaker Jack Fritz that he has renominated Mrs. Rose
Nakanaga, and Suda Rayel to the FSM Banking Board, pursuant to Public
Law No. 9-130. The third nominee is John Mangefel.

The tree former members Yusuo Phillip, Rose Nakanaga and Johnny
David appointed pursuant to the old law have tendered their
conditional resignations, Nena said, it is, therefore, time to
appoint members pursuant to the new law.

Nena also said that IMF banking expert Dench is now visiting the
FSM and will be leaving at the end of November this year and it will
be useful to have a functioning Board to take advantage of his
presence in the FSM.

Nena concluded by urging for a favorable consideration of
Congress. Incidentally, one day after adjournment of the First
Regular Session of the 10th Congress on November 11, 1997, Special
Assistant to the President on Legislative Matters Tony Otto said that
Congress did not act on President’s Banking Board nominations.