Puerto Rico Gov. Alejandro García-Padilla announced changes to his fiscal team Wednesday that call for shifting Treasury Secretary Melba Acosta to the helm of the Government Development Bank, and naming Juan Zaragoza-Gómez as her successor at the agency. The governor also announced the appointment of Luis Cruz as director of the Office of Management and Budget.
Puerto Rico’s economic activity index reflected yet another drop in August, when results were down 1.1 percent when compared to the same month last year, according to data released late Friday by the Government Development Bank.
The Puerto Rico Electric Power Authority announced Thursday that discussions with its creditors have resulted in agreements that provide the agency with a “consensual path forward to improve its operations and financial situation.”
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