The Asian Development Bank (ADB), the East-West Center and University of Hawai’i Center for Pacific Islands Studies invite you to join a public presentation and open dialogue by the Graduate School USA (GSUSA) exploring “The Economic Impacts of the End of Compact Grant Assistance in the Freely Associated States."
A team of Graduate School USA experts was contracted by the ADB to expand upon ongoing GSUSA economic and statistics work within the three Freely Associated States of the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau. The team met with officials in Washington, DC and each of the three FAS, and studied the range of preparatory actions being considered by US, FAS, and donor partner officials with respect to potential changes in funding levels under each Compact. The team also extended its prior economic modeling and trust fund analysis work to estimate the economic impact of three different funding scenarios for each FAS.
The slides follow the presentation of “The Economic Impacts of the End of Compact Grant Assistance in the Freely Associated States" delivered on April 7, 2022 in Honolulu, Hawaii.DOWNLOAD SLIDES
The presentation will focus on the team’s post-COVID-19 updated Draft for Discussion. Following input from all parties, the ADB plans to publish a final report following presentations and information sessions. In addition to a thorough description of the structure of Compact funding to each FAS during two funding periods to-date, the key findings of the study are presented for three scenarios:
Thinking Practically: Modeling the Economic Impact of Funding Losses Under a Base Scenario
Thinking Negatively: Modeling the Economic Impact of Funding Losses Under a Severe Scenario
Thinking Positively: Modeling the Economic Impact of an Renewed Compact Funding Scenario
The current discussion draft contains pre-COVID modeling projects which are currently being updated.DOWNLOAD DRAFT
Dr. Mark Sturton is a macroeconomist focusing on small developing nations predominantly in the Pacific region. He has worked extensively in the FSM, RMI, and Palau, where he currently serves as the team leader of the Economic Monitoring & Analysis Program (EconMAP).
Mr. Kevin O'Keefe's career has focused on economic development with specialization in macroeconomic policy, international trade and development finance. His professional focus on the Compacts of Free Association date back to 1986.
Hon. Larry Dinger served as the U.S. ambassador to the Federated States of Micronesia (2001-2004) during final negotiations of the FSM Compact of Free Association, as amended. He has also served as the U.S. Ambassador to the Fiji Islands, and Chief of Mission to Burma.
Jason Aubuchon serves as the Program Director of the Pacific and Virgin Islands Training Initiatives (PITI-VITI), which is primarily supported by the U.S. Department of the Interior, with supplemental support from the Asian Development Bank. He has 25 years of experience in the Pacific.