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Treasury Secretary to pull double-duty as government CFO

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Gov. Pedro Pierluisi announced Sunday he has appointed Puerto Rico Treasury Secretary Francisco Parés as the government’s chief financial officer, to prioritize the completion of the audited financial statements.

His appointment is effective immediately.

“It’s necessary to have an accurate map of our finances to be able to responsibly establish the fiscal solutions we need,” Pierluisi said. “To get rid of the Financial Oversight and Management Board for Puerto Rico, we have to finish and publish updated financial statements, maintain a balanced budget and responsibly adjust public debt.”

In his announcement, the governor listed Parés’ recent achievements at the helm of the Treasury Department, Including digitizing the agency’s Internal Revenue division through the SURI project, as well as “achieving record and historic General Fund collections, and recording more than 1 million individual tax returns for a single tax year.”

Parés also spearheaded efforts to process more than 2.9 million tax returns or financial aid applications for through electronic mechanisms and distribute more than $4.2 billion directly to taxpayers and participants of the different aid programs to alleviate the economic crisis created by COVID-19 in Puerto Rico.

“When I end my journey as a civil servant, I want to look back and know that I gave all my being and productive years to Puerto Rico, without hesitation,” said Parés on his Twitter account. “I know we will help [Gov. Pierluisi] get out of bankruptcy. I thank him for his confidence in allowing me to serve the people and I reiterate my commitment.”

“This designation as CFO did not pull me away me from the position of Treasury Secretary, nor will it provide me with additional financial considerations,” he said.

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This story was written by our staff based on a press release.
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