Puerto Rico Gov. Wanda Vázquez-Garced announced a number of measures that government agencies have taken to face the looming threat from Tropical Storm Dorian, which is expected to pass near Puerto Rico as a hurricane later this week. During a news conference at the Emergency and Disaster Management Bureau, Vázquez-Garced said plans have undergone “significant […]
The Opportunity Zones Priority Projects Committee has established a list of qualified commercial activities by geographical area for the development of priority projects, pursuant to Law 60-2019, as the government revealed. Committee Chair and the government’s CFO, Omar J. Marrero, said this ordinary process is “an important step toward facilitating this investment mechanism and reinforcing […]
Given the uncertainty that recent events involving administration officials and chat leaks, which have “affected all sectors of the island,” the Puerto Rico Information Technology Cluster called on private sector trade groups to unite and assume a single stance to guarantee the government’s operation. The co-chairs of the Board of PRITC, as well as its […]
The Association of General Contractors, Puerto Rico Chapter proposed a number of strategies to eliminate corruption in public procurement processes, including promoting legislation to ban the government from hiring newly created legal entities, without financial experience, or a history of expertise. In a statement, Alejandro J. Abrams, president of the trade group known as AGCPR, […]
The Puerto Rico College of Engineers and Surveyors urged the government to avoid the paralysis of the economy by acting quickly to resolve the political crisis it is going through. “This is not a matter of parties or governors, but of the island. We’re in the international spotlight and our economy is paralyzed,” said Pablo […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2019/07/NIMB-Podcast-GOVERNMENT-CRISIS_mixdown-S1E13.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSBusiness leaders from the Puerto Rico Private Sector Coalition condemned the arrests of former government officials and collaborators and requested an immediate corrective plan action. For Coalition members, the fact that it is not the first time that a government in power is the subject […]
By Mc Nelly TorresCenter for Investigative Journalism Three days after Hurricane María, Isolina Miranda stared in disbelief at what was left of the two-story building where a community health center once stood in the heart of San Lorenzo, a town of 37,000 people in the eastern central region of the island. Miranda is the executive […]
Although he has been in his new post as president of the Puerto Rico Manufacturers Association for less than a week, Carlos Rodríguez already has a number of goals he wants to accomplish during his tenure. First on the list is re-inserting the manufacturing sector in the government discussion. “There was a time when we […]
Puerto Rico’s Economic Development and Commerce Secretary Manuel Laboy is betting on a handful of new online products to be launched in the next four to six weeks to speed up and streamline the government’s permitting process. During an interview with the “En Una Hora” program on 11Q 1140 AM, in which News is my […]
The government of Puerto Rico released its audited financial statement for Fiscal 2016, as required by the Fiscal Oversight and Management Board, revealing a deficit of $70.3 billion, primarily as a result of debt accrued by public servants’ retirement programs. The programs had a combined debt of $42 billion, at the time, which is the […]
The Financial Oversight and Management Board for Puerto Rico filed more than 230 complaints against individuals and entities to recover some $4.2 billion in payments by the Commonwealth of Puerto Rico that were in conflict with the U.S. Bankruptcy Code and Puerto Rico law. The complaints allow the Oversight Board to ensure that the payments […]
With the ubiquitous discussion as to the fate of the colossal federal funding currently being disbursed by the Federal Emergency Management Agency and the $8 billion-plus CDBG-DR funds by U.S. Housing and Urban Development, the court of public opinion has already placed warnings on the recipient, the government of Puerto Rico. But in all fairness, […]
Recent discussions of Puerto Rico’s debt levels by both Puerto Rico officials and the Financial Oversight and Management Board for Puerto Rico represent that the island’s per capita debt levels are far higher than the average per capita levels of mainland states in the U.S. mainland. However, that analysis compares only state-level debt and ignores […]
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The property was listed for $25 million, but was sold for less than half of that, at $12 million.
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