OBoard adopts new policies to handle certain gov’t transactions
August 8, 2018
The Financial Oversight and Management Board for Puerto Rico announced the adoption of two new policies to “foster accountability, transparency and efficient dealing” in certain government transactions and public projects.
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P.R’s Fiscal Control Board: Parallel government full of lawyers, consultants
August 2, 2018
Martin Bienenstock sits in the audience, looking at his tablet. As the twelfth public meeting of Puerto Rico’s Fiscal Control Board takes place, he raises his eyes, adjusts his glasses, frowns and pays attention to the discussion.
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P.R. gov’t reaches preliminary restructuring support agreement with PREPA bondholders
July 31, 2018
The Financial Oversight and Management Board for Puerto Rico, the Puerto Rico Electric Power Authority, and the Fiscal Agency and Financial Advisory Authority have reached an agreement with the Ad Hoc Group of PREPA bondholders.
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Assured Guaranty sues over constitutionality of OBoard members
July 24, 2018
Two bond insurance subsidiaries of Assured Guaranty Ltd. have filed an adversary complaint challenging the constitutionality of appointments to the Financial Oversight and Management Board for Puerto Rico.
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P.R. Builders Association stresses ‘need for agreements’ between gov’t, OBoard
July 10, 2018
The Puerto Rico Builders Association called upon the three branches of government and the Financial Oversight and Management Board for Puerto Rico to reach agreements to make the island return to the path of economic and fiscal recovery.
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Economist: OBoard’s labor reform misses critical points of P.R’s ‘particular’ economy
July 9, 2018
While Puerto Rico needs to jumpstart its job market and create new sources of employment, the Financial Oversight and Management Board for Puerto Rico’s proposal to align the island’s labor landscape with that of the U.S. mainland “misses critical points of the [island’s] very particular economy.”
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P.R. debt audit drags on as creditor negotiations heat up
June 12, 2018
A mural alongside Baldorioty de Castro Avenue in San Juan, near the exit to De Diego Street, reads nowadays, “¡Auditoría ya, mamabichxs! A ciegas no” (which roughly translates into “Audit Now, suckers! Don’t do it blindly.”)
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Expert: Labor reform, expanded tourism would steer P.R. economy forward
June 4, 2018
The Puerto Rican economy would get a full point of economic growth with proper labor market reforms, and would largely benefit from an expanded tourism industry, which currently represents 6 percent of the island’s GNP.
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OBoard says Law 80 is ‘not only problem’ with P.R.’s labor landscape
May 31, 2018
As the Puerto Rico Senate approved Bill 1011 to repeal Law 80 of 1976, with a number of amendments, the Financial Oversight and Management Board for Puerto Rico released a 2,000+ page document on labor reform, that called the long-standing mandate “part of the problem.”
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Rosselló rips U.S. Congressman Bishop, urges him to adopt ‘balanced approach’ to P.R.
April 3, 2018
Gov. Ricardo Rosselló sent a letter Congressman Rob Bishop (R-Utah) in which he urged the lawmaker to “adopt a balanced approach” that considers all stakeholders in Puerto Rico and not just the concerns of the bondholders.
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Rosselló buckles down against gov’t austerity, will turn in revised Fiscal Plan
April 2, 2018
Puerto Rico Gov. Ricardo Rosselló confirmed he will hand over a new revised Fiscal Plan to the Financial Oversight and Management Board on Thursday that will exclude the layoffs of public employees, a labor reform and a reduction in pensions.
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Gov’t fiscal plans for P.R. ‘pretty much alike’ under different party administrations
March 1, 2018
How many times can someone say the word “plan" in 30 seconds? At least eight.
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Fiscal Plan for P.R. built on ‘fantasy’ economic projections
February 20, 2018
The most recent version of Puerto Rico’s fiscal plan for its central government would chart the future of the island, giving some degree of certainty to citizens, businesses and investors to bet on Puerto Rico’s dismal economy.
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P.R.’s creditors unite to call for ‘credible, pro-growth’ Fiscal Plan
February 15, 2018
A group of creditors, which collectively holds a substantial portion of Puerto Rico's outstanding $73 billion public debt, responded to the Commonwealth’s most recent version of its Fiscal and Economic Growth Plan, saying “a pragmatic, transparent and growth-focused policy agenda is critical to the island's recovery.”
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OBoard rejects gov’t fiscal plan, requests changes by Feb. 12
February 6, 2018
The Financial Oversight and Management Board for Puerto has asked the Puerto Rico government to revise the proposed fiscal plans for the Commonwealth, the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority, as per letters sent Monday.
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