Representatives from a cross-section of the economy expressed their opinions Monday in the wake of the the Financial Oversight and Management Board for Puerto Rico approval of the fiscal plan the island’s government must follow to shore up liquidity and fund essential services.
The Financial Oversight and Management Board for Puerto Rico on Saturday approved Gov. Ricardo Rosselló’s request to extend the deadline in which to present the administration’s fiscal plan to Feb. 28.
The Financial Oversight and Management Board for Puerto Rico on Wednesday outlined the goals, objectives and parameters that must be included in the new administration’s fiscal plan, as well as its willingness to extend the deadline to submit the document and effect a moratorium on creditor lawsuits, subject to specific conditions.
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.
The Financial Oversight and Management Board for Puerto Rico is reviewing the government’s proposed Fiscal and Economic Growth Plan — which on Friday was met with criticism by a cross-section of the island’s business community — and should be finished by Jan. 31.
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.
NEW YORK — Puerto Rico Gov. Alejandro García-Padilla confirmed Tuesday that his administration will have a new fiscal plan ready shortly after the federal fiscal oversight board is “appointed and operational.”
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