The Financial Oversight and Management Board for Puerto Rico announced that it designated the $5.3 million expansion of the Fajardo Municipal Landfill as a critical project under Title V of PROMESA. The landfill serves as the primary municipal and commercial disposal site for the north-eastern region of Puerto Rico, serving nine municipalities. It operates in […]
The Puerto Rican legislature will soon consider a debt restructuring deal for Puerto Rico’s Electric Power Authority (PREPA) that is unaffordable and risks jeopardizing the island’s economic recovery, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, “Puerto Rico Electric Power Authority debt restructuring: A weak […]
The Puerto Rico Financial Oversight and Management Board has remained fairly quiet during the last several weeks of turmoil and massive demonstrations that have rocked Puerto Rico in protest over the corruption of the [Ricardo] Rosselló administration. On July 23rd, the Board issued a press release stating that, “The people of Puerto Rico deserve a […]
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