The Financial Oversight and Management Board for Puerto Rico meet Wednesday with student representatives of the University of Puerto Rico’s 11 regional campuses, in addition to the Plastic Arts and Design Schools and the Puerto Rico Conservatory of Music, to discuss the public university system’s fiscal situation.
The Financial Oversight and Management Board for Puerto Rico announced Monday it approved, certified and filed in the U.S. District Court for the District of Puerto Rico voluntary petitions under Title III of the Puerto Rico Oversight, Management and Economic Stability Act for the Puerto Rico Highway and Transportation Authority and the Government of Puerto Rico Employees Retirement System.
Ukraine, 66 times the land area of Puerto Rico, is the largest country wholly within Europe. The Texas-size former Soviet republic has precious little in common with the tiny U.S. commonwealth except that both are rapidly losing population — and both face huge fiscal challenges ahead.
The top Democrat on the House Small Business Committee, Rep. Nydia M. Velázquez (D-NY), unveiled Thursday an array of legislative proposals aimed at igniting small business growth and entrepreneurship in Puerto Rico.
Gov. Ricardo Rosselló announced Tuesday the certification of 260 companies that are creating more than 1,000 jobs islandwide in the areas of sales, service and manufacturing.
Resident Commissioner Jenniffer González-Colón announced Tuesday the awarding of federal funds in the amounts of $3.5 million to the Barceloneta Primary Health Services Inc. health care center, and $613,914 to the Puerto Rico Firefighter Corps.
Gov. Ricardo Rosselló announced Monday that the Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, for its Spanish acronym) and the Government Development Bank of Puerto Rico have entered into a restructuring support agreement (RSA) with a significant portion of its major stakeholders.
The Puerto Rico Electric Power Authority provided additional detail on its previously announced extension and supplement to its restructuring support agreement (RSA) with the ad hoc group of PREPA bondholders, the fuel line lenders, the monoline insurers and the Government Development Bank for Puerto Rico.
Local and stateside creditors and credit ratings agencies did not reach a true consensus over the government's decision and future effect of seeking the bankruptcy-like protection under Title III of PROMESA on Wednesday to restructure some $70 billion in debt.
The U.S. House of Representatives voted Monday to close a decades-old loophole that has exempted financial institutions operating in Puerto Rico and the territories from the same investor protections that apply on the mainland.
Puerto Rico Gov. Ricardo Rosselló confirmed Monday that Puerto Rico was included in the Appropriations package expected to be approved by Congress this week, which will guarantee $296 million toward the Medicaid shortfall, $3.3 million for the dredging works in the San Juan Harbor, and $750,000 to start working on the Martín Peña Channel.
The Financial Oversight and Management Board for Puerto Rico on Friday approved and certified the fiscal plans of four covered territorial agencies: the Government Development Bank; Puerto Rico Highways and Transportation Authority; Puerto Rico Aqueduct and Sewer Authority; and Puerto Rico Electric Power Authority, with amendments.
Economic Development Bank President Luis Burdiel-Agudo unveiled Wednesday details of a new guarantee or insurance program for commercial loans to be provided by other financial institutions, including credit unions.
The Puerto Rico Treasury Department reported Thursday that net revenues recorded in the General Fund in March totaled $994.4 million, which was $64.7 million, or 7.0 percent, more than in March 2016
On Thursday, 74 Democratic members of Congress sent a letter to Speaker Paul Ryan (R-WI) urging immediate action to prevent the nearly 1 million residents of Puerto Rico who rely on Medicaid from losing their coverage.
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