PRMA urges OBoard to ‘reconsider its role and objectives’
January 17, 2018
Given the impact on Puerto Rico’s economy from the onslaught of Hurricanes Irma and María, the collapse of the island’s power system and the changes to the U.S. tax code and its local effect, the Puerto Rico Manufacturers Association is urging the Financial Oversight and Management Board to reconsider its role and objectives.
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P.R. OBoard opens comment period for $1.5B in ‘critical energy projects’
January 8, 2018
The Financial Oversight and Management Board for Puerto Rico announced the start of the 30-day public comment period for four of the critical projects submitted through the Critical Projects Process (CPP) and under the consideration of the federally appointed entity’s Revitalization Coordinator.
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Economists: Hurricane María gives PR chance to improve metrics, decision-making
November 17, 2017
The Financial Oversight and Management Board held Thursday the first of three listening sessions to inform the process for revising the certified Fiscal Plans of the government of Puerto Rico and its agencies.
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Energy execs urge PR Energy Commission, OBoard to ‘take over’ PREPA
November 15, 2017
The Institute for Energy Economics and Financial Analysis and the Institute for Competitiveness and Sustainable Economics for Puerto Rico called for the Puerto Rico Energy Commission and the federal Fiscal Oversight and Management Board of Puerto Rico to take control of the Puerto Rico Electric Power Authority.
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At AEI panel, economists debate PR’s post-María future
November 8, 2017
Seven weeks after Hurricane María devastated Puerto Rico, most of its 3.4 million inhabitants still don’t have electricity. And the island’s deeply indebted economy — already in crisis before the storm — is in worse shape than ever, warned a panel of economists meeting Tuesday afternoon in Washington.
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OBoard names Chief Transformation Officer for PREPA
October 26, 2017
In the wake of the controversy swirling around the $300 million contract the Puerto Rico Electric Power Authority awarded Whitefish Energy to rebuild the network post-Hurricane María, the utility has been assigned a “Chief Transformation Officer” to oversee the work.
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US lawmakers ask OBoard for energy reform plan for PR
September 14, 2017
Four members of U.S. Congress representing both political parties sent a letter to chairman of the Financial Oversight and Management Board for Puerto Rico, requesting details of the Board’s energy reform plan for the island following the devastation of Hurricane Irma.
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OBoard asks gov’t for fiscal impact of Healthcare Act
August 31, 2017
The Financial Oversight and Management Board for Puerto Rico notified Gov. Ricardo Rosselló and the Legislature that the compliance certification issued by government Aug. 1 regarding the recently passed Act 47, failed to provide the required formal estimate of the law’s fiscal impact.
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OBoard, gov’t face-off in court over employee furloughs
August 29, 2017
The Financial Oversight and Management Board for Puerto Rico filed in the U.S. District Court for the District of Puerto Rico an “Adversary Complaint for Declaratory and Injunctive Relief” seeking to enforce the certified Commonwealth’s Fiscal Plan.
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OBoard opens call for critical infrastructure projects
August 24, 2017
The Financial Oversight and Management Board for Puerto Rico announced Wednesday it will begin accepting proposals for projects that address critical infrastructure needs under Title V of the Puerto Rico Oversight, Management and Economic Stability Act.
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U.S. lawmakers ask OBoard for transparency in spending
August 23, 2017
Troubled by reports of more than $30 million in expenses after one year of operations, U.S. Reps. José Serrano and Nydia Velázquez sent a letter to the Financial Oversight and Management Board for Puerto Rico expressing concerns over the lack of transparency and independent supervision related to its spending decisions.
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OBoard issues RFP for independent investigation team
August 17, 2017
The Financial Oversight and Management Board for Puerto Rico issued a request for proposals (“RFP”) from parties interested to be retained as an independent investigation team to probe Puerto Rico’s debt and its connection to the current fiscal crisis.
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OBoard asks to hire advisory firm; top fee is $695/hr
August 15, 2017
The Financial Oversight and Management Board for Puerto Rico filed an application at the U.S. District Court to approve the hiring of Phoenix Management Services, LLC as financial advisor for the mediation team appointed in the Title III cases related to the Commonwealth’s bankruptcy proceedings.
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OBoard to probe PR debt via independent investigator
August 3, 2017
The Financial Oversight and Management Board for Puerto Rico announced Wednesday its intention to start a “comprehensive investigation of Puerto Rico’s debt and its relationship to the fiscal crisis.”
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Op-Ed: OBoard is telling us to ‘Do as I say…not as I do’
August 3, 2017
We all learned this week, with considerable shock, that the Financial Oversight and Management Board for Puerto Rico has spent, during the course of just 10 months, the incomprehensible sum of $31 million out of our sad pockets.
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