Resident Commissioner Pedro Pierluisi introduced a bill Thursday that would authorize the U.S. Treasury Department to guarantee repayment of principal and interest on bonds to be issued in the future by the island’s bond-issuing public entities, but only if the agency certifies that the commonwealth has “demonstrated meaningful improvement in managing its public finances.”
The Puerto Rico Energy Commission issued a resolution Thursday denying a petition by the National Public Finance Guarantee Corp., which insures $1.4 billion in Puerto Rico Electric Authority bonds, for a rate review and establishment of a temporary rate increase of at least 4.2¢ per kilowatt-hour.
Rep. José Enrique Meléndez, sent a letter to President Obama Tuesday asking his administration to intervene and become more active in their engagement when dealing with Puerto Rico’s economic crisis.