Puerto Rico trade groups ready to work with gov’t
July 15, 2015
Representatives from 20 Puerto Rican trade associations said Tuesday they are ready to work with the government to jump-start the island’s economic development, proposing specific strategies to move things along.
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Leading economist: Growth essential to P.R.’s recovery
July 10, 2015
The loss of Section 936 tax breaks, combined with overly indulgent local labor laws and a federal policy that encourages people to stay on the dole rather than work, have all contributed to Puerto Rico’s current fiscal nightmare.
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P.R. governor creates work group to restructure debt
June 30, 2015
Puerto Rico Gov. Alejandro García-Padilla announced Monday a multi-pronged plan to address the island’s fiscal crisis to work with creditors on restructuring what he described as the “unpayable” $73 billion debt.
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PRMA suggests remedial steps for gov’t fiscal problems
May 29, 2015
During the opening day of its annual convention Thursday, the Puerto Rico Manufacturers Association delivered a list of recommendations — including cutbacks, government restructuring and fiscal measures — to administration officials, in hopes of doing its part to help the island pull out of its economic crisis.
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Experts: Puerto Rico on right track in use of tech tools
May 14, 2015
Puerto Rico’s current financial crisis might just be the opportunity for the government to stay on track with its strategy of collaborating with private-sector technology companies to find solutions to its problems and improve services to citizens.
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García-Padilla asks for support of 13.25% VAT
May 13, 2015
Saying it “is the best option” to solve the government’s fiscal problems, Gov. Alejandro García-Padilla re-introduced Tuesday a proposal to establish a value added tax system he said would generate more than $2.5 billion in net revenue for the cash-strapped administration.
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Cuts loom as gov’t confirms $441M deficit for Fiscal ’16
May 5, 2015
Members of Gov. Alejandro García-Padilla’s fiscal team confirmed Monday the government will likely have to implement cutbacks across the board to address the $441 million deficit it is facing for the start of Fiscal 2016.
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3rd edition of Tech Summit focusing on entrepreneurship
April 29, 2015
With the participation of important international players in the fields of technology and computing and chief information officers from Latin America and the U.S. mainland, the government announced Tuesday the upcoming third edition of the Tech Summit, slated for May 13.
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Economist: Sense of crisis prevails, decision time is now
April 27, 2015
Going into its eighth year of negative growth, Puerto Rico needs to become accountable for its “sad state” of internal affairs and make a number of necessary decisions to recover growth in fiscal years to come and put an end to the prevailing sense of crisis, said economist firm H. Calero Consulting Group in the most recent edition of its internal publication “Pulse.”
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GDB: Puerto Rico gov’t could shut down in 3 months
April 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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U.S. gov’t, Total Petroleum reach $1.6M settlement
March 10, 2015
Total Petroleum Puerto Rico Corp. and the U.S. government announced a settlement agreement Monday related to alleged company violations against the Resource Conservation Recovery Act at 31 gas stations in Puerto Rico and four in the U.S. Virgin Islands.
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Op-Ed: Purging ’14’s anxieties in favor of ‘hope’ in ’15
December 29, 2014
Forty years ago, as I prepared for a personal adventure that would change my life forever, I read an autobiography by U.S. Supreme Court Judge William O. Douglas called “Go East Young Man, The Early Years.”
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PrimerPeso.com gives start-ups tech tools to grow
November 24, 2014
As part of a sweeping inter-agency effort, and backed by Code for America, government officials announced this weekend the birth of PrimerPeso.com, an online platform that aims to give start-ups and established small businesses in Puerto Rico the tools needed to access financing to launch or expand their operations.
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P.R. Treasury: At $676M, Oct. revenues beat estimates
November 13, 2014
Puerto Rico General Fund revenue collections reached $676 million in October, beating government estimates by $7 million. However, the results were $185.6 million less when bumped up against October 2013 figures.
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OPEN Puerto Rico gets donation from executive Prouty
October 23, 2014
OPEN Puerto Rico received what it called “a strong vote of confidence” this week from Nicholas Prouty, CEO of Putnam Bridge Funding LLC, who made an undisclosed donation to help the organization continue its efforts to facilitate and promote transparency in Puerto Rico.
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