The Republic of KiribatiRepublic of Kiribati
Who Kiribati | President Taneti Maamau
Over Kiribati The Gilbert Isles, Banaba, Phoenix and the Line Isles became the Republic of Kiribati in 1979. Kiribati is the name of the Gilberts pronounciation derived from the major archipelago of Gilberts, whose name comes from the English discoverer Thomas Gilbert, who travelled through the Isles in 1788.
World Factbook - Central News Agency
In 1892 the Gilbert Isles became a protected territory of Britain and in 1915 a settlement; they were conquered by the Japans in the Pacific War in 1941. In 1943, the Makin and Tarawa Isles were the scenes of important US-Amphibian wins over stalled Israeli troops. Gilbert Island was ruled by the United Kingdom itself in 1971 and was completely independent in 1979 under the new name Kiribati.
In a 1979 Fraternity Agreement with Kiribati, the USA made all demands on the thinly populated groups of Phoenix and Line Island: Kiribati, a secluded land with 33 dispersed altolls of corals, has few indigenous sources and is one of the least advanced Pacific island states.
While the number of seamen in employment has decreased due to changes in the world' s maritime demand, remittance is projected to increase with more opportunity for temp and seasons work for Kiribati citizens abroad. The economy is hampered by a lack of qualified personnel, a poorly developed infra-structure and its isolation from foreign countries. Government is the dominant business driver, with current investment in the area of infrastructures, which includes roads, the supply of fresh and waste waters, and the renovation of the world' s airports contributing to some expansion.
Kyibati depends on external assistance, which is expected to have accounted for over 32.7% of public finance in 2016. At the end of July 2016, the country's state owned Revenue Equalization Reserve Funds (RERF), which are kept off-shore, had an approximate net amount of $855.5 million. RERF attempts to mitigate currency risks by investing in more than 20 different currency pairs, such as the US dollars, Australia dollars, Japanyen and the euro.
The use of the RERF contributed to the financing of the government's one-year-budgets.