Nonprofit organization Open Spaces posed to several members of U.S. Congress that if the Financial Oversight and Management Board for Puerto Rico is not eliminated, transparency regulations must be imposed on its executives and its ...
By 2016, Puerto Rico’s government was in dire financial straits. To avoid bankruptcy, Congress enacted the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”), creating a board responsible for restructuring the island territory’s substantial ...
In light of Hurricane Dorian and the related Federal declaration of a state of emergency for Puerto Rico, the Financial Oversight and Management Board authorized the government to dip into some $260 million in Emergency ...