Cancel: EDB OKs $499M in financing since January ’13
December 2, 2016
The head of the Economic Development Bank for Puerto Rico told members of the incoming administration during transition hearings that the agency approved $499.7 million in financing from January 2013 to present, boosting the economy
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Gov.-elect Rosselló announces 1st cabinet appointments
November 29, 2016
Gov.-elect Ricardo Rosselló announced Monday the first five members of his cabinet, including his Chief of Staff, chief legal advisor and his representative before the Financial Oversight and Management Board.
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Financial Board picks legal counsel, strategic consultant
November 28, 2016
The Financial Oversight and Management Board for Puerto Rico announced Sunday the selection of Proskauer Rose LLP as lead outside legal counsel, O’Neill & Borges LLC as outside legal counsel and McKinsey & Company as strategic consultant.
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U.S. Treasury offers Board ongoing technical assistance
November 22, 2016
Saying “resolving the crisis in Puerto Rico remains a top priority for the U.S. Treasury Department,” agency Secretary Jacob Lew sent a letter to the Financial Oversight and Management Board offering ongoing technical assistance.
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Treasury collections up 11.7% in October, at $700.1M
November 18, 2016
General Fund net revenues totaled $700.1 million in October, exceeding October 2015 revenues by $73.4 million, or 11.7 percent, and beating estimates by $74.5 million, or 11.9 percent.
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Financial Board unveils list of presenters for 3rd meeting
November 18, 2016
The Financial Oversight and Management Board for Puerto Rico announced the list of presenters tentatively confirmed to appear at its third meeting to be held Friday in Fajardo.
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N.Y. Fed President Dudley to visit Puerto Rico Nov. 28-29
November 17, 2016
Federal Reserve Bank of New York President William C. Dudley will visit Puerto Rico Nov. 28-29 to meet with leaders in the local community, government, business and education sectors, the agency announced Wednesday.
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Rosselló spells out economic development strategy
November 16, 2016
Gov.-elect Ricardo Rosselló on Tuesday offered details of the socioeconomic transformation model his administration will follow to spur “growth and development” for Puerto Rico over the next four years.
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Oversight Board calls for comments on gov’t fiscal plan
November 11, 2016
The Financial Oversight and Management Board for Puerto Rico opened a call Thursday for individuals and organizations to provide written comments on the government of Puerto Rico’s proposed fiscal plan.
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P.R. Gov. names Bielenberg ‘Revitalization Coordinator’
November 10, 2016
Puerto Rico Gov. Alejandro García-Padilla announced Wednesday his choice to fill the position of Revitalization Coordinator, picking Aaron Bielenberg from the three candidates proposed by the Financial Oversight and Management Board.
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Report: Fiscal Board nominee’s track record raises flags
November 8, 2016
The professional track record of the nominees named by the Financial Oversight and Management Board for Puerto Rico for the position of “Revitalization Coordinator,” Riz Shah, could present a conflict of interest were he to be appointed, a report by the Center for Investigative Journalism revealed Monday.
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Fiscal board submits names for revitalization coordinator
October 31, 2016
The Financial Oversight and Management Board for Puerto Rico announced Sunday it has submitted the names of three candidates for possible designation as revitalization coordinator to Puerto Rico Gov. Alejandro García-Padilla.
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Co-op regulator drafting fiscal stability plan for Board
October 25, 2016
The Public Corporation for the Supervision of Puerto Rico Cooperatives, or COSSEC as the entity is known in Spanish, confirmed it is drafting a “fiscal stability plan” where the sector will present strategies to stabilize the island’s co-op system and its more than 1 million members.
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Treasury Secretary leaves several projects pending
October 21, 2016
With a little more than two months left to this administration’s four-year term, Treasury Secretary Juan Zaragoza said there are projects he would have liked to have seen through, including a reclassification of agency employees to improve their salaries.
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Zaragoza: Oversight Board needs to defend Law 154
October 21, 2016
The government of Puerto Rico is counting on the Financial Oversight and Management Board for Puerto Rico to fight for the permanence of Law 154, passed in October 2010 as an amendment to Puerto Rico’s Internal Revenue Code that places an excise tax on sales generated by local subsidiaries to their international parent companies.
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