CNMI public debt lowers, Guam more than doubles
In terms of public debt, the CNMI is doing better than Guam, based on the U.S. Government Accountability Office’s public debt report on the five U.S. territories.
According to the report, the CNMI’s public debt went down from $251.7 million in fiscal year 2005 to $144.7 million in fiscal year 2015—a decline of $107 million.
Comparatively, Guam’s public debt more than doubled—from almost $1 billion in fiscal year 2005 to $2.5 billion in fiscal year 2015, the GAO report noted.
The CNMI government issued a general obligation bond of about $100.5 million in fiscal year 2007. The money raised was used to refinance two prior bonds issued during fiscal years 2000 and 2003, with most of the CNMI’s bonded debt outstanding scheduled to mature in 2030 or later.
Read more: https://www.saipantribune.com/index.php/cnmi-public-debt-lowers-guam-doubles/
