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In this article it states that the "Minister of State ... is a French citizen ... selected for a three-year term from a group of senior French civil servants selected by the French government." One of the three references cited for that statement is the CIA's World Factbook, and I looked, and it does support the statement.
However, the main article on Monaco, in the section on Law and Government, states "since a constitutional amendment in 2002, the Minister of State can be French or Monegasque." The article on Politics of Monaco says "the minister of state [is] appointed by the monarch from a list of three French or Monegasque national candidates presented by the French government. Until the 2002 amendment to the Monegasque constitution, only French nationals were eligible for the post." However, neither of those statements is supported by reference, and by Googling I find mostly referenced to these Wikipedia articles. The CIA World Factbook does mention 2002 amendments to the Monaco constitution, but not what they change.
Any experts (possibly Monaco residents) who can clear this up? This fact about the Minister of State having to be French was in the Did You Know section today and it may not be right.