GEDA board to select underwriter

by Mindy Aguon

Guam - Part of the governor's deficit reduction plan and biennial budget proposal is to borrow $344 million on the bond market later this month. This week the Guam Economic Development Authority board will meet to select underwriter services for the Government of Guam.

The underwriter, or financial experts, are expected to play a crucial role in helping the government obtain the multi- million dollar bond later this year to pay tax refunds and pay down outstanding obligations of the government. 

The board is scheduled to meet this Friday.