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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.