after lengthy negotiations, residents received a £ 19
million sterling compensation from the UK government. In
1957, as part of its nuclear disarmament, the British
government detonated 3 hydrogen bombs near the island of
In 1975, the residents of the Alice Islands disassociated
their archipelago from the community with Gilbert. This was
done with reference to the significant ethnic, historical
and cultural differences according to the Melanesians at
Gilbert. Tuvalu now began a separate independence process
and in 1978 gained independence.
The people of the Gilbert Islands gained their
independence on July 12, 1979, proclaiming the Republic of
Kiribati - "Gilbert" on the local 13-letter alphabet.
The production of cobra and fisheries is the basis for
the country's exports, as the low land does not allow for
greater agricultural production. Fishing is carried out
under agreements with fleets from major fishing nations,
Japan, South Korea, the United States and Taiwan.
Kiribati also has high expectations of mineral extraction
from the ocean floor. The manganese nodules found
in the ocean off Kiribati are considered to be the best
occurrences in the world.
In 1986, the country made contact with the IMF, and was
recognized by the UN as one of the world's poorest
countries. This status gives it a number of credit and trade