Treasury meets with Private Sector Coalition to unveil priority projects
July 29, 2019
Puerto Rico Treasury Secretary Francisco Parés recently met with representatives of the Private Sector Coalition to present 10 priority projects and reaffirm his commitment to the agency and with taxpayers. During the meeting, he discussed critical projects, the actions taken since his appointment and Treasury’s strategic plan, which emphasizes the transformation of the organizational culture […]
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FEMA to reinstate manual drawdown process for P.R. hurricane recovery funding
July 25, 2019
Citing the “ongoing leadership changes within the Puerto Rican government,” the Federal Emergency Management Agency announced its decision to reinstate the manual drawdown process for the Commonwealth of Puerto Rico as an additional step to protect the federal investment. Effective immediately, the Commonwealth must receive approval from the agency to drawdown grant funds for Hurricanes […]
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Rosselló resigns after corruption scandal, chat leak rocks administration
July 24, 2019
Embattled Gov. Ricardo Rosselló-Nevares is resigning, becoming the first governor in Puerto Rico’s history not to end his term and to leave office pressured by hundreds of thousands of island residents and members of his own New Progressive Party. However, his resignation will be effective Aug. 2, 2019, at 5 p.m. he said in a […]
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Oversight Board calls for swift resolution of P.R.’s governance crisis
July 24, 2019
The Financial Oversight and Management Board for Puerto Rico issued a statement calling for a swift resolution to the island’s current governance crisis so “Puerto Rico can move forward to rebuild trust and to focus government on those it is here to serve.” “The public outcry by residents of Puerto Rico over the last two […]
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USDA approves $600M in new Nutrition Assistance Program funds for P.R.
July 11, 2019
Puerto Rico residents continuing to recover from 2017’s hurricanes could be eligible for increased nutrition assistance funded by U.S. Congress and provided through a grant from the U.S. Department of Agriculture. This temporary assistance of $600 million in new benefits will be distributed through Puerto Rico’s Nutrition Assistance Program (NAP) beginning as early as August, […]
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U.S. Congress introduces $14B Medicaid parity bill for P.R., U.S. territories
July 11, 2019
U.S. Congressman Darren Soto introduced bipartisan legislation to provide equal access to federal resources for Medicaid to American citizens living in U.S. territories, the lawmaker’s office announced. H.R. 3631, known as the Territories Health Care Improvement Act, increases the limit on Medicaid payments and the federal medical assistance percentage for the five U.S. territories: Puerto […]
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P.R. Aqueduct and Sewer Authority opens bids for new $21.4M central lab
July 9, 2019
The Puerto Rico Aqueduct and Sewer Authority has launched a bidding process to find a private company to design and build its new central laboratory building, which has an estimated cost of $21.4 million. In the announcement, PRASA also said the project includes performing improvements to the site and existing utilities infrastructure. The project must […]
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Oversight Board sues Rosselló administration over Law 29
July 4, 2019
The Financial Oversight and Management Board for Puerto Rico has filed a lawsuit against the Gov. Ricardo Rosselló, and the Puerto Rico Fiscal Agency and Financial Advisory Authority in the U.S. District Court for Puerto Rico to prevent the government from enforcing Law 29 and to compel it to comply with the Puerto Rico Oversight, […]
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Rosselló signs executive order to create lobbyist registry
July 3, 2019
Gov. Ricardo Rosselló has signed Executive Order 2019-031 to create a Lobbyist Registry in which participants must register and disclose any lobbying efforts at a Puerto Rico government agency. Likewise, the executive order also establishes the creation of a so-called Transparency Code for all executive branch cabinet members. “In the past, the practice by some […]
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Rosselló signs P.R. Incentives Code into law
July 2, 2019
Gov. Ricardo Rosselló has signed Act 60-2019, known as the “Puerto Rico Incentives Code,” which will establish a new process for granting and overseeing all of the government’s allocated incentives. Among the new incentives is the Student Savings Plan Program through which the government will establish an account and deposit $1,000 for each kindergarten student […]
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Oversight Board sues PREPA fuel suppliers, laboratories over fraudulent payments
July 1, 2019
The Special Claims Committee of the Financial Oversight and Management Board for Puerto Rico today filed a complaint against several fuel suppliers and laboratories seeking to recover potentially billions of dollars in fraudulent payments made by the Puerto Rico Electric Power Authority. The Oversight Board’s complaint alleges that between 2002 and 2015 certain fuel suppliers […]
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Workers in P.R.’s metro area earned 42% less an hour vs. U.S. counterparts
June 28, 2019
Workers in the San Juan-Carolina-Caguas Metropolitan Statistical Area had an average (mean) hourly wage of $14.61 in May 2018, about 42% below the United States average of $24.98, the U.S. Bureau of Labor Statistics said Thursday. Chief Regional Economist Martin Kohli noted that, after testing for statistical significance, wages in the local area were lower […]
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P.R.’s Consumer Price Index remains flat, while value of the dollar drops
June 26, 2019
Puerto Rico’s Consumer Price Index remained virtually flat in May 2019, increasing 0.2% compared to April 2019, according to data released by the Puerto Rico Institute of Statistics. Meanwhile, from May 2018 to May 2019 the General Price Index increased by 0.5%, the data showed. Furthermore, the purchasing power of the consumer dollar dropped to […]
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FEMA opens new consolidated resource center in P.R.
June 25, 2019
The government of Puerto Rico, the Central Office of Recovery, Reconstruction and Resilience, or COR3, and the Federal Emergency Management Agency have established a Consolidated Resource Center on the island to help move recovery forward, the federal agency announced. A Consolidated Resource Center, known as a CRC, was established on June 3 to streamline the […]
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U.S. House approves Velázquez amendment on Martín Peña Channel cleanup
June 20, 2019
The U.S. House of Representatives has approved an amendment authored by Rep. Nydia M. Velázquez (D-NY) aimed at advancing the cleanup of the Martín Peña Channel, a 3.7-mile stretch in San Juan that has long been plagued with environmental problems. “The people of the Martín Peña Channel are suffering tremendous public health problems through their […]
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