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Wednesday, August 12, 2020
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Pandemic Economics: How bad Is It?

When asked to estimate the impact of the novel coronavirus on the V.I. government’s revenues, Bureau of Internal Revenue Director Joel Lee said they could not give a firm projection “because this has never happened before.”
Nathan Simmonds, director of finance administration at the Public Finance Authority, testifies before the Senate Finance Committee Monday. (Photo by the V.I. Legislature)

PFA Looking into Reprogramming Unspent Capital Projects Funds

The Public Finance Authority is exploring ways to address roughly $115 million in unexpended capital projects funding, a chronic problem among local agencies. Reprogramming them for other purposes is not off the table, Nathan Simmonds, the director of finance administration at the Public Finance Authority, told lawmakers Monday.

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