by Mindy Aguon
Guam - The Guam Memorial Hospital still has $2.6 million in loan proceeds that is available to pay outstanding debts to vendors. Several months ago the hospital borrowed close to $12 million to pay down its debt. While some of that money was set aside to possibly pay a portion of the $7.2 million that is owed in employee and employer contributions to the Government of Guam Retirement Fund, GMH officials say they are working on separate negotiations for that obligation.
Interim Hospital Administrator Rey Vega says the money from the loan is only going to pay vendors and not for operations.