1 May 2013

American Samoa government to set up reserve emergency fund

3:13 pm on 1 May 2013

The American Samoa government has unveiled plans to help financially-strapped public operations, such as the LBJ Hospital.

Governor Lolo Matalasi Moliga has announced that an emergency reserve account will be created.

The governor plans to tap into the more than 3 million US dollars in off island accounts the Government has to create the new emergency reserve account.

Lola says the seed money to start the emergency reserve account will be leftover monies from the 20 million US dollars the government borrowed from the ASG Retirement Fund in 2008.

"And hopefully that 3 point five million in our off island acount will be put into that account [emergency reserve]. At least we have some money to call a reserve account - emergency. For example what we are facing today with the LBJ, so the Treasurer will have at least something to work with."