In Question And Answer Session On Government Finances, GVI Answers Some, Dodges Others
- Staff
- April 18, 2018
In a question and answer session conducted by Capital Markets Advisory, LLC, a brokerage firm offering portfolio management, financial planning, and advisory services, officials from the Department of Finance did their best to provide responses that painted the brightest picture for the territory's financial outlook, while dodging other questions -- including a query regarding the territory's total debt, which at last count in August 2017 was upwards of $2 billion. The government also answered some questions while giving little context, including the matter regarding funding the government for the rest of fiscal year 2018. The government said funding for the remainder of fiscal year 2018 would be provided through a federal community disaster loan (C.D.L.) of $296 million. What it did not say was that after receiving a first drawdown of $85 million in December, the U.S. Treasury refused to make additional funds available, citing the government’s low projection in future revenu...
