Despite falling liquidity, gov’t to pay Christmas bonus
diciembre 21, 2015
With an estimated $700 million in the Government Development Bank’s coffers and a Treasury Department that reported $488.6 million in revenue collections in November, Gov. Alejandro García-Padilla announced Sunday public sector employees will receive their Christmas bonuses, as established by law.
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Gov’t makes $354M debt service payment via clawbacks
diciembre 1, 2015
The Puerto Rico Government Development Bank announced today it has met its scheduled payments of $354 million in principal and interest after Gov. Alejandro García-Padilla instructed his fiscal team to redirect available revenues from other instrumentalities by activating contractual clawback provisions.
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GDB: Puerto Rico’s economic activity up 1.0 percent YOY
diciembre 1, 2015
Puerto Rico’s economic activity increased by 1.0 percent on a year-over-year basis in October, and reflected a month-over-month increase of 0.2 percent, according to the Government Development Bank’s Economic Activity Index released Monday.
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$354M bond payment, SCOTUS decision loom this week
noviembre 30, 2015
The government of Puerto Rico is facing a busy week with the development of three key events on- and off-island, headed by a decision to make a $354 million bond payment by the Dec. 1 deadline.
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Report: GDB knows bondholders IDs, but withholds info
29 de octubre de 2015
The Government Development Bank has contracted New York-based Bondholder Communications Group, LLC to develop a communications database of information regarding bonds issued by the government and their value, a report by the Center for Investigative Journalism released Wednesday confirmed.
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El GDB no publicará el informe anual como había prometido el 30 de octubre.
28 de octubre de 2015
La presidenta del Banco de Desarrollo del Gobierno de Puerto Rico, Melba Acosta, confirmó el martes que la agencia no publicará el Informe Financiero Anual Integral el 30 de octubre, tal y como había anunciado a principios de año.
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Puerto Rico’s economic activity drops 0.4% YOY in June
julio 31, 2015
Puerto Rico’s economic activity registered a year-over-year decrease of 0.4 percent, and a month-over-month reduction of 0.3 percent, according to the latest index released by the Government Development Bank Thursday.
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GDB liquidity down 24% in May to $778.8M
junio 16, 2015
The Puerto Rico Government Development Bank released Monday its latest liquidity report showing the agency had $777.8 million left as of May 31, representing a 24 percent drop from the $1.02 billion it had in April.
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GDB’s Berrocal Institute opens internship program
junio 4, 2015
The José M. Berrocal Institute for Economics and Finance, a subsidiary of the Government Development Bank for Puerto Rico, this week welcomed 28 talented college students to its 13th internship program, which will provide them a professional development opportunity in the different government agencies.
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GDB president berates Moody’s’ latest credit downgrade
mayo 22, 2015
Government Development Bank President Melba Acosta came down hard on Moody’s Investors Service’s decision to downgrade the Commonwealth’s credit rating deeper into junk status by saying the move shows “ratings agencies are totally out of tune with what’s happening” in Puerto Rico.
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La liquidez del GDB bajó a $1.02B en abril.
18 de mayo de 2015
El Banco de Desarrollo del Gobierno de Puerto Rico publicó su último informe de liquidez a finales de la semana pasada, en el que se muestra un saldo neto de $1,020 millones de dólares a 30 de abril, lo que supone un descenso con respecto a los $1,110 millones que la agencia informó el mes anterior.
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Puerto Rico’s economic activity at -0.4% YOY in March
mayo 14, 2015
The Puerto Rico Government Development Bank on Wednesday released a revised Economic Activity Index for March that registered a -0.4 percent year-over-year reduction, and a month-over-month increase of 0.5 percent.
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GDB: Puerto Rico gov’t could shut down in 3 months
abril 22, 2015
The Puerto Rico Government Development Bank (GDB) warned Gov. Alejandro García-Padilla that without an approved tax reform and a budget adjusted to public spending and the island’s fiscal reality, the government could run out of money and shut down within the next three months.
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Economist: Oil tax and government liquidity don’t mix
abril 21, 2015
The strategy set forth by Gov. García-Padilla’s administration to try shore up liquidity for the Government Development Bank for Puerto Rico through the reliance on a recently approved oil tax hike may fall short if prices increase, or the island’s population continues to shrink, economist firm H. Calero Consulting exposed in its most recent monthly publication.
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GDB expands banking services offered to gov’t entities
abril 9, 2015
Government Development Bank President Melba Acosta-Febo announced Wednesday the range of government banking services that are now available to public corporations, agencies and municipalities, essentially provided at no charge.
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