Nauru officially the Republic of Nauru and formerly known as Pleasant Island, is an island country in Micronesia in the Central Pacific. Its nearest neighbor is Banaba Island in Kiribati, 300 kilometers (186 mi) to the east. It further lies northwest of Tuvalu, north of the Solomon Islands, east-northeast of Papua New Guinea, southeast of the Federated States of Micronesia and south of the Marshall Islands. With 10,084 residents in a 21-square-kilometre (8.1 sq mi) area, Nauru is the smallest state in the South Pacific and third smallest state by area in the world, behind only Vatican City and Monaco.
Nauru has a population of 10,084
The president of Nauru is Baron Waqa, who heads a 19-member unicameral parliament. The country is a member of the United Nations, the Commonwealth of Nations, the Asian Development Bank and the Pacific Islands Forum. Nauru also participates in the Commonwealth and Olympic Games. Recently Nauru became a member country of the International Renewable Energy Agency (IRENA). The Republic of Nauru became the 189th member of the International Monetary Fund in April 2016.
Infrastructure and Economy
The Nauruan economy peaked in the early 1980s, as it was dependent almost entirely on the phosphate deposits that originate from the droppings of sea birds. There are few other resources, and most necessities are imported. Small-scale mining is still conducted by RONPhos, formerly known as the Nauru Phosphate Corporation. The government places a percentage of RONPhos’s earnings into the Nauru Phosphate Royalties Trust. The Trust manages long-term investments, which were intended to support the citizens once the phosphate reserves were exhausted.
The official language of Nauru is Nauruan
Australian dollar (AUD)