Fiscal board submits names for revitalization coordinator
October 31, 2016
The Financial Oversight and Management Board for Puerto Rico announced Sunday it has submitted the names of three candidates for possible designation as revitalization coordinator to Puerto Rico Gov. Alejandro García-Padilla.
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Oriental CEO ‘pleased’ PROMESA Board is active
October 24, 2016
Oriental Bancorp reported $11.7 million in net income for the third quarter of 2016 ended Sept. 30.
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Scotiabank sues P.R. gov’t over loan repayment
September 29, 2016
Scotiabank Puerto Rico on Wednesday filed a complaint against the government of Puerto Rico to prevent the diversion and expropriation of certain tax revenue pledged as collateral to secure a loan the bank extended to the Metropolitan Bus Authority.
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Tax experts debate PROMESA’s ‘promise’ at D.C. panel
September 28, 2016
WASHINGTON — Half a dozen tax attorneys and D.C. policy wonks bickered Tuesday over how to bring Puerto Rico out of its perennial economic crisis in the context of PROMESA, the Puerto Rico Oversight, Management and Economic Stability Act.
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Espacios Abiertos to publish control board documents
September 21, 2016
Espacios Abiertos, a nonprofit organization that promotes transparency, announced Tuesday the creation of a website where it will post documents generated or published by the Fiscal Oversight Board.
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AGC unveils proposal to jumpstart P.R.’s infrastructure
September 6, 2016
The Puerto Rico Chapter of the Associated General Contractors of America recently unveiled its proposal for the “Revitalization of vital infrastructure on the island."
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CofC proposes ‘P.R. Empresa’ to spur jobs, economy
September 1, 2016
The Puerto Rico Chamber of Commerce (CofC) unveiled Wednesday its proposal to drive job creation and attract new capital investment to the island called Puerto Rico Empresa Inc., a public-private partnership to promote across-the-board collaboration.
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Economists to discuss PROMESA’s impact at conference
August 22, 2016
The Puerto Rico Economists Association wiil address the impact of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) and present, through successful cases, the recipe to achieve economic revitalization during its upcoming annual conference, the organization announced.
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Exec: No protocols makes P.R. reform ‘uncomfortable’
August 18, 2016
A lack of a formal intervention protocol, such as the ones in place in the U.S. mainland for governments in distress, is making Puerto Rico’s restructuring process “uncomfortable” and more challenging to address, an expert with 25 years of experience in reforming troubled public and private sector entities said Wednesday.
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Moody’s issues FAQ report for investors on PROMESA
August 12, 2016
In a new report released Thursday, Moody’s Investors Service addressed investor questions regarding the implications of the recently enacted Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) on the U.S. municipal bond market.
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Gov’t to have new fiscal plan ready for oversight board
August 10, 2016
NEW YORK — Puerto Rico Gov. Alejandro García-Padilla confirmed Tuesday that his administration will have a new fiscal plan ready shortly after the federal fiscal oversight board is “appointed and operational.”
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Expert: P.R. must work quickly in DC in coming months
August 4, 2016
Puerto Rico’s private sector has a one-month window — between Sept. 6 and Oct. 1 — to deliver their proposals to the Congressional Task Force on Puerto Rico to spur economic development initiatives for the island, former Republican Congressman Jerry Weller, said Tuesday.
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Pierluisi: P.R. Task Force chair to be named this week
July 20, 2016
Puerto Rico’s Resident Commissioner in Washington, Pedro Pierluisi, said Tuesday that U.S. House Speaker Paul Ryan could name the lawmaker who will steer the work of the Puerto Rico Congressional Task Force this week.
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Pierluisi tapped for Congressional task force on P.R.
July 15, 2016
U.S. House Democratic Leader Nancy Pelosi has appointed Puerto Rico Resident Commissioner Pedro Pierluisi to the “Congressional Task Force on Economic Growth in Puerto Rico,” which was established by the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).
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Brookings panel explores PROMESA’s implications
July 13, 2016
WASHINGTON — A four-member panel convened here Tuesday to discuss the long-term lessons of Puerto Rico’s debt crisis for other jurisdictions in financial trouble.
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