NAURU

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Context

To help meet the cost of moving about 10,000 residents from low-lying homes menaced by rising sea levels and floods, the remote Pacific Ocean nation of Nauru aims to sell citizenships for the climate-threatened island.

About NAURU                                                                            

• It is a small island nation located in Oceania, on the south-western Pacific Ocean, 45km south of Equator.
• It was formerly known as Pleasant Island, microstate in Micronesia, part of Oceania in the central pacific.
• Area is of around 20 square km, oval shaped nation, one of the smallest countries in the world.
• It is also one of the smallest in terms of population.
• It is largely composed of rock phosphates. Phosphate has been mined in Nauru since 1907. Over the years it was one of the main export item and main resource.
• The extent of agriculture, fishing, manufacturing, tourism are of very minor value.
• It is around 1300km northeast of the Solomon Islands; closest neighbour is island of Banaba.
• It is a fossilized coral atoll.
• It has no official capital city; however de facto capital city is Yaren.
• It got its independence in 1967. In 1999 it became a full member of both United Nations and commonwealth.
• The nature of polity is parliamentary form of government. It is also republican in nature.
• Since it has colonial past, it is within the Australian monetary system. Legal tender of this country is Australian currency.
• Most of the residents are indigenous Nauruans.
• Nauruan is the national language.

ECONOMIC TIMES