Micronesia Sun Bright News from the Deep Pacific
Photo Sources: Pacific Islands Forum
By Christopher Cottrell
June 24, 2026, Marshall Islands__The 2026 Forum Economic Ministers Meeting (FEMM) convened in Majuro, Marshall Islands yesterday to address “Economic and Financial Inclusion in the Pacific,” with rising fuel and cost of living costs top of the agenda.
President Heine officiated the opening, and said, “We can now turn toward bringing the economies of the Pacific closer: closer to one another, and closer to the wider world. That is the heart of why I am hopeful. Financial inclusion is no longer a question of whether it is possible. It is a question of which paths we choose, and how quickly and carefully we walk them.”
She added, “In the Marshall Islands, we have not waited. We have explored digital approaches —
built to international standards, with proper oversight — one more advanced and I’m sure my Minister of Finance is most anxious to showcase it later this week. I will not get ahead of that conversation now. I offer our digital exploration not as the answer, but as one piece of the evidence for a larger claim: that this problem is solvable, and
that even a small nation, working deliberately and responsibly, can begin to solve it.”
Her full speech is here.
As a critical body of the Pacific Islands Forum, the “Forum Economic and Finance Ministers play a critical role in deepening regionalism through strengthening policy cohesion on agreed regional economic priorities and policy positions and advocating these in other regional and international fora,” according to a Pacific Islands Forum statement.
FEMM Chair, David Paul, Minister of Finance, Banking and Postal Services of the Republic of the Marshall Islands, commented, “The current challenges of escalated costs of energy, transport, food, and fuel have once again demonstrated how vulnerable we are to external shocks which are being felt through our heavy dependence on global markets on some of our very basic household needs as well as what sustains our private sector and economic growth.”
Minister Paul added, “The increase in the cost of living experienced at the present time tests the resilience of our communities and people, especially those on low or variable incomes, those living with a disability, and those relying on limited social protection. The theme this year is therefore very timely as it puts at the forefront our approaches at the national and regional level that are inclusive and people-centred and are able to contribute to the resilience of our economies and people despite the shocks being felt.”
Secretary General of the Pacific Islands Forum, Baron Divavesi Waqa said, “As highlighted by Hon Minister Paul, we meet at a time when the challenges facing our region have worsened with the regional and global environment and outlook substantially deteriorating. The expansion of the Middle East conflict into Iran and other ongoing conflicts have compounded the challenges facing our economies, bringing the world into greater political, economic and social turmoil.”
Today will see the second and final day of dialogues, with more specific to follow in Micronesia Sun’s second report on this.
