United States. Central Intelligence Agency

“ Few other resources exist with most necessities being imported, mainly from Australia, its former occupier and later major source of support. The rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. In anticipation of the exhaustion of Nauru's phosphate deposits, substantial amounts of phosphate income have been invested in trust funds to help cushion the transition and provide for Nauru's economic future. As a result of heavy spending from the trust funds, the government faces virtual bankruptcy. ”

“ In recent years Nauru has encouraged the registration of offshore banks and corporations. In 2004 the deterioration in housing, hospitals, and other capital plant continued, and the cost to Australia of keeping the government and economy afloat has substantially mounted. Few comprehensive statistics on the Nauru economy exist, with estimates of Nauru's GDP varying widely. GDP: purchasing power parity - $60 million (2001 est.) GDP - real growth rate: NA GDP - per capita: purchasing power parity - $5,000 (2001 est.) ”

“ To cut costs the government has called for a freeze on wages, a reduction of over-staffed public service departments, privatization of numerous government agencies, and closure of some overseas consulates. ”