U.S. Embassy in the
Federated States of Micronesia

The Joint Economic Management Committee was established to strengthen the management and accountability of economic assistance provided under the Amended Compact.

JEMCO Duities

1. Review the development plans and other planning and budget documents of the government, and monitor the progress made by the government toward sustainable economic development and budgetary self-reliance in relation to its written goals and performance measures;
2. Consult with providers of United States Federal Grant programs and services and other bilateral and multilateral partners to monitor the use of development assistance from all sources as it relates to the allocation of financial assistance under the Compact, as amended;
3. Review Audits called for in the Compact, as amended, or this Agreement and actions taken or being taken to reconcile problems and qualified findings;
4. Review performance outcomes and other reported data in relation to the previous year’s Grant funding levels, terms, and conditions;
5. Review and approve Grant allocations, performance objectives, and, where appropriate, assessment tools, for the upcoming year;
6. Review and approve any change proposed by the government to the sectors to receive economic assistance set forth in Title Two of the Compact, as amended;
7. Evaluate progress, management problems and any shifts in priorities in each sector, and identify ways to increase the effectiveness of United States assistance;
8. Review quarterly trust fund investment reports;
9. Comment on the comprehensive report prepared by the government as required by sections 214 and 215 of Title Two of the Compact, as amended, before it is submitted to the President of the United States; and
10. Attach special conditions to any or all annual Grant awards to improve program performance and fiscal accountability, and ensure progress toward macroeconomic goals.

For additional information on JEMCO, please visit www.USCompact.org.