Government

Gov.-elect names more economic team members

Gov.-elect Alejandro García-Padilla is putting his economic team in place for when he takes over in January.

Gov.-elect Alejandro García-Padilla revealed Tuesday the identities of several more members of his economic team, who will take office in January — several of which are already familiar faces in government.

Named to head the Treasury Department is Melba Acosta — who directed the Office of Management and Budget under Gov. Sila Calderón from 2001 to 2004 — while Carlos Rivas-Quiñones, who served as executive director of the Puerto Rico Housing Finance Authority under Gov. Aníbal Acevedo-Vilá, will assume the leadership at the OMB.

While Acosta is a CPA and advisor at the McConnell Valdes law firm, Rivas-Quiñones is an attorney.

Javier Ferrer, an attorney with the Pietrantoni Méndez & Alvarez law firm, will preside the Government Development Bank, while veteran banker David Chafey — former president of Banco Popular de Puerto Rico — will chair the agency’s board. While Chafey will contribute more than 30 years in banking, Ferrer is expected to capitalize on his experience as advisor to financial institutions.

“They will be the authors of improving the economy, increase revenue, stimulate economic activity, investment and the creation of wealth,” García Padilla said in a press conference in Puerta de Tierra. “This is our economic dream team.”

The incoming administration is putting its ducks in a row to deal with the responsibility of drafting a plan to show credit ratings agencies that it will address Puerto Rico’s mounting fiscal problems, particularly the underfunded Commonwealth retirement systems.

During a first round of appointments two weeks ago, García-Padilla named long-time executive Alberto Bacó-Bagué to head the Economic Development and Commerce Department, Engineer and former Merck Finance Director Antonio Medina to the Puerto Rico Industrial Development Corp., corporate attorney Francisco Chévere to head Puerto Rico Trade and Exports, and Ingrid Rivera-Rocafort to head the Puerto Rico Tourism Company.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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