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Concept
Politics of Nauru
Summary
The politics of Nauru take place in a framework of a parliamentary representative democratic republic, whereby the President of Nauru is the head of government of the executive branch. Legislative power is vested in both the government and the parliament. The Judiciary is independent of the executive and the legislature.
Economy of Nauru
Nauru's economic viability has historically rested on its phosphate reserves. Phosphate has been mined on the island since 1906. After its independence in 1968, this small Pacific nation generated healthy revenues from this lucrative—but finite—resource. The phosphate supply has been largely exhausted in recent years, and the economy has declined since its peak near 1980.
In this regard, the government has tried to develop the island into an offshore financial centre, imitating the success of the Bahamas and other island nations around the world that have emerged as major offshore banking centres. The government has also invested in property on other islands and the United States through its Nauru Phosphate Royalties Trust.
Over the course of recent years, however, offshore banking institutions and instruments have come under increasing scrutiny by international bodies seeking to make international finance a more transparent system. Nauru, as a result, has been a casualty of this movement.
In December 1999, four major international banks banned dollar transactions with Nauru. The United States Department of State issued a report identifying Nauru as a major money laundering centre, used by narcotics traffickers and organized crime figures.
Nauru had 17 changes of administration between 1989 and 2003. President Bernard Dowiyogo was first elected in 1976 and served as President till 1978, he returned to that office in 1989, and was re-elected again in 1992.
A vote in parliament, however, forced him to yield power to Kinza Clodumar in 1995. Dowiyogo regained the presidency when the Clodumar government fell in mid-1998.
Official source
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