Report warns stalled recovery, fragile grid threaten Puerto Rico
August 19, 2025
Puerto Rico’s economic outlook shows signs of both promise and peril, according to data compiled by Francisco Rodríguez-Castro of Birling Capital, as the island contends with stalled federal reconstruction funds, persistent inequality and a governance crisis following President Donald Trump’s dismissal of nearly all members of the Financial Oversight and Management Board. The analysis, shared […]
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PREPA debt, fiscal board shake-up raise concerns, firm CEO warns
August 13, 2025
Birling Capital’s Rodríguez-Castro cites risks to Puerto Rico energy plans. #NewismyBusiness
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Puerto Rico Treasury urges pension funding amid FOMB shake-up
August 8, 2025
Island’s 2026 budget approved despite fiscal board upheaval. #NewsismyBusiness
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Data platform launched to modernize Puerto Rico’s public finance
August 8, 2025
New Data Intelligence System aims to improve transparency and coordination with fiscal board. #NewsismyBusiness
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Trump dismisses majority of Puerto Rico’s fiscal board
August 6, 2025
Move made as board fights over PREPA debt and island’s high power costs #NewsimyBusiness
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GAO: Puerto Rico cuts debt by $12.5B as finances improve, risks persist
July 17, 2025
Agency reports budget surplus and economic growth but warns of long-term risks. #NewsismyBusiness
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GAO finds $1.9B Puerto Rico surplus, warns of unresolved PREPA debt
July 1, 2025
While Puerto Rico strengthens its financial position, pending electric utility restructuring and population loss remain key threats to long-term stability. #NewsismyBusiness
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Report: Puerto Rico oversight board’s consultant spending surpasses $2B
February 13, 2025
Open Spaces report finds expenses significantly exceed initial estimates under the Puerto Rico Oversight, Management and Economic Stability Act. #NewsismyBusiness
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IEEFA: Puerto Rico utility’s annual budget deficits persist after 6 years of federal oversight
April 8, 2024
The U.S.-based clean energy think tank warns a potential $2.5 billion bond issue for PREPA could significantly impact the financial burden on households. #Newsismybusiness
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Op-Ed: The intent of Congress with PROMESA
August 25, 2023
PROMESA brought with it the controversial creation of the Financial Oversight and Management Board to lead the financial reorganization process. #NewsismyBusiness
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CNE: PROMESA has fallen short of its goals 5 yrs. after enactment
June 30, 2021
Five years after the approval of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), the objectives, achievements and successes attained fall short, the Center for a New Economy concluded in the latest edition of its “CNE Review.” In it, the CNE examines PROMESA since its enactment in June 2016, makes an inventory of […]
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AAFAF trains 100+ public employees on scope, reach of PROMESA in Puerto Rico
May 21, 2021
The Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish) held its first workshop organized by the Institute for Professional Training and Public Fiscal Governance, targeting all chief legal officers of the Commonwealth’s government agencies. The Institute seeks to address the need to develop and train government human resources on fiscal, economic and governance matters, […]
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Congress files bill to end conflicts of interest in PROMESA debt restructuring
February 24, 2021
Rep. Nydia M. Velázquez (D-NY) has introduced the “Puerto Rico Recovery Accuracy in Disclosures Act of 2021.” Known as PRRADA, the bill would extend current US law to require disclosures of conflicts of interest in all PROMESA bankruptcy proceedings in Puerto Rico, and thereby improve transparency and restore confidence in the island’s future. Senator Bob […]
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US House passes 1st amendment to PROMESA mandating more disclosure
December 9, 2020
The US House of Representatives passed H.R. 683 — the Puerto Rico Recovery Accuracy in Disclosures Act of 2019 (PRRADA) — the first amendment approved by either chamber of Congress to the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). The legislation, introduced by Rep. Nydia M. Velázquez (D-N.Y.), mandates financial disclosures by professionals […]
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Op-Ed: P.R. Financial Oversight Board was unconstitutionally appointed
August 30, 2019
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 public debts. But there are serious questions regarding the constitutionality of this Financial Oversight and Management Board for Puerto Rico […]
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