P.R. business, community leaders support transparency legislation
May 23, 2019
A number of civic and professional organizations that met during the 10th Annual Puerto Rican Summit held in Orlando, Florida May 17th, 2019 agreed to endorse U.S. House of Representatives Resolution 683, the Puerto Rico Recovery Accuracy Disclosures Act of 2019 that establishes conflict of interest disclosure provisions. Representatives of the Puerto Rican Chamber of […]
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Op-Ed: Put Puerto Rico first
November 30, 2018
During the past few months a narrative has taken hold, on both sides of the political spectrum, that Puerto Rico is “using federal disaster relief funds to pay bondholders.”
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P.R. Oversight Board publishes debt investigation report, labels GDB debt ‘enabler’
August 21, 2018
The report, which is just under 600 pages long, includes the results of its investigation into Puerto Rico’s debt and its connection to the current fiscal crisis.
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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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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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P.R. credit unions file ‘adversary proceeding’ in P.R. bankruptcy case
March 23, 2018
A group of Puerto Rico credit unions filed an "adversary proceeding" before Judge Laura Taylor Swain, who presides over Puerto Rico's Title III bankruptcy proceedings.
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Hispanic coalition asks Congress for stronger oversight for P.R.’s recovery
March 8, 2018
Hispanic Leadership Fund President Mario H. López and nine other signatories from free market organizations sent a letter to key members of Congress, calling for a hearing on the lack of progress made by the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) Oversight Board in the 18 months of their commission.
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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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Oversight Board wants license to be unaccountable
November 15, 2017
As it publicly sets off a strategy to strengthen its control over the management of the Government of Puerto Rico, the Financial Oversight and Management Board for Puerto Rico is asking a federal judge to exempt it from having to render accounts to the people of Puerto Rico with extremely dangerous arguments for transparency.
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PR debt insurers pull court complaints against fiscal plan
October 7, 2017
In what could represent the first positive for Puerto Rico in its litigation with creditors and insurance companies over debt repayment, two monoline insurers — National Public Finance Guarantee Corp. and Assured Guaranty withdrew their complaints against the Commonwealth’s Fiscal Plan.
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Moody’s: PR’s fragile economy faces new risks post-María
September 26, 2017
The Commonwealth of Puerto Rico is facing new risks and economic uncertainty following the devastation caused by Hurricane Maria last week, Moody’s Investors Service concluded in a report released Tuesday.
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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. gov’t to decide by Oct. 6 if it will defend PROMESA
August 17, 2017
The United States government will notify the Financial Oversight and Management Board by Oct. 6 if it will defend the constitutionality of PROMESA.
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