Nauru’s money problems

The government of Nauru is almost out of money. The country owed money to an American company which it didn’t pay. A court has frozen one of the government’s bank accounts. Soon the government won’t be able to pay the salaries of its workers. Nauru’s government is trying to see if the court’s decision can be changed.

Nauru is a tiny island country in the Pacific Ocean just south of the equator. The country once had the highest wealth per citizen of all the countries in the world. This was thanks to its large phosphate deposits. Phosphate was mined and sold to other countries. The source of Nauru’s phosphates is quite interesting – they are the result of hundreds of years of droppings from various seabirds! Who could have thought that bird poop could be the reason for the wealth of a country! The phosphate deposits in Nauru have almost run out, and this has made one of the world’s richest countries almost bankrupt.

Image Credits: TUBS for Nauru’s image
Sources: http://www.abc.net.au/, http://www.ft.com/, https://www.cia.gov/, New York Times