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.
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.
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.
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.”
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.
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.
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).
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.
Saying she “did the best she could with the tough hand that was dealt” and ending 12 years of public service, Puerto Rico Government Development Bank President Melba Acosta is stepping down from her post, effective July 31.
The U.S. Senate passed S. 2328, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), Wednesday with a bipartisan vote that should send the measure to Pres. Barack Obama’s desk for signing today.
Members of the Puerto Rico Economists Association believe there are several aspects of the Puerto Rico Oversight, Management, and Economic Stability Act that are unconstitutional, saying the disruption they could bring to the island are “incalculable.”
Lobbying efforts both for and against the approval of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) bill at the Senate gained steam in Washington Thursday, with public- and private-sector representatives making their case with U.S. Senators.
Following an all-day session, the U.S. House passed H.R. 5278, known as the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) on Thursday, with a bipartisan vote of 297-127 and a number of amendments.
The PROMESA Act (H.R. 5278), the bill aimed to address Puerto Rico’s debt crisis, passed in the U.S. House Natural Resources Committee Wednesday with bipartisan support from lawmakers.
H.R. 5278, also known as the “Puerto Rico Oversight, Management, and Economic Stability Act,” which seeks to establish an Oversight Board to assist the government of Puerto Rico and its agencies in managing its public finances, will move for a vote by members of the U.S. House Committee on Natural Resources today, when nearly two dozen amendments will be considered.
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