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.
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.
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.
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.
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.
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.
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.
The United States government will notify the Financial Oversight and Management Board by Oct. 6 if it will defend the constitutionality of PROMESA.
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.
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.
A group of companies insuring the Puerto Rico Electric Power Authority’s debt filed a motion in the U.S. District Court for the District of Puerto Rico Tuesday, asking for the appointment of an independent receiver to pursue increased rates and to oversee certain operations of the public corporation.
U.S. Rep. Nydia M. Velázquez (D-NY) hosted Tuesday a panel of experts and other members of Congress for a roundtable discussion on unlocking the keys to stimulating economic growth in Puerto Rico.
Moody’s Investors Service's July 6 downgrade of the Puerto Rico Electric Power Authority’s credit rating to from Caa3 to Ca reflects “the increased uncertainty that now exists regarding the outcome and the timing of a future debt restructuring plan for PREPA, which in the end will lower bondholder recoveries.
George Pataki, Former New York Gov. and advisor to Ad Hoc Group Of Puerto Rico General Obligation Bondholders, Issued a memorandum saying Gov. Rosselló and the Fiscal Board are acting in bad faith.
In Puerto Rico we have focused so much on the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) that we seem to have forgotten that we are part of a much larger economy beyond our 100x35 and that what happens there has an impact on us.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA