Tag Archives: fiscal plan

Oversight board certifies fiscal plans for Puerto Rico Industrial Development Co., co-op regulator Cossec

Oversight board certifies fiscal plans for Puerto Rico Industrial Development Co., co-op regulator Cossec Oversight board certifies fiscal plans for Puerto Rico Industrial Development Co., co-op regulator Cossec By Caribbean Business on June 30, 2020 (Screen capture of http://www.oversightboard.pr.gov) SAN … Continue reading

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FOMB: Incentivised-retirement bill is inconsistent with fiscal plan

Puerto Rico has way too many government workers relative to the size of the overall population in PR.  The difficult decision must be made to rightsize and reduce the employment levels. FOMB: Incentivised-retirement bill is inconsistent with fiscal plan FOMB: … Continue reading

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Puerto Rico Oversight Board Unveils University Fiscal Plan

https://www.bnnbloomberg.ca/puerto-rico-oversight-board-unveils-university-fiscal-plan-1.1451579 Puerto Rico Oversight Board Unveils University Fiscal Plan Jim Wyss, Bloomberg News 6-16-20 (Bloomberg) — Facing declining enrollment, a bloated pension system and more than $341 million in debt, the University of Puerto Rico needs to cut spending, boost … Continue reading

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Covid-19 May Cost Puerto Rico $2 Billion in Taxes, Board Says

https://www.bnnbloomberg.ca/covid-19-may-cost-puerto-rico-2-billion-in-taxes-board-says-1.1436312 Covid-19 May Cost Puerto Rico $2 Billion in Taxes, Board Says Jim Wyss, Bloomberg News The Capitol Building is seen past walls in the Old City of San Juan, Puerto Rico. Photographer: Christopher Gregory , Bloomberg   (Bloomberg) — … Continue reading

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Puerto Ricans Face ‘Sacrifice Everywhere’ on an Insolvent Island

  https://www.nytimes.com/2017/05/06/us/puerto-rico-insolvency-business-owners-anxiety.html Puerto Ricans Face ‘Sacrifice Everywhere’ on an Insolvent Island By FRANCES ROBLESMAY 6, 2017 Workers at the Río Piedras terminal in San Juan, Puerto Rico, face waning business. Transportation businesses have been hurt by the economic crisis as … Continue reading

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Puerto Rico’s fiscal board approves plan for Cossec, lifeline for credit unions

  http://caribbeanbusiness.com/puerto-rico-cooperatives-supervision-insurance-corp-proposes-lifeline Puerto Rico’s fiscal board approves plan for Cossec, lifeline for credit unions By Luis J. Valentín Ortiz on August 4, 2017   FAJARDO, Puerto Rico – Puerto Rico’s financial control board certified Friday, with amendments, a fiscal plan … Continue reading

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Gov’t files bill for Puerto Rico co-ops to comply with fiscal plan

  http://caribbeanbusiness.com/govt-files-bill-for-puerto-rico-co-ops-to-comply-with-fiscal-plan Gov’t files bill for Puerto Rico co-ops to comply with fiscal plan  By Caribbean Business on August 24, 2017 SAN JUAN – The Secretary of Public Affairs and Public Policy, Ramón Rosario, announced Thursday that the Puerto Rico … Continue reading

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Oversight Board proposes adjustments and consolidation for Cossec

The Puerto Rico government forced the cooperativos, aka credit unions, to buy Puerto Rican bonds, which are now considered junk. Sounds like if the cooperativos had to mark these assets to market, many would be insolvent. So the regulator is … Continue reading

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Oversight board gives Puerto Rico gov until Feb. 12 to make changes to fiscal plans

Many good ideas in the recommendations. http://caribbeanbusiness.com/oversight-board-gives-puerto-rico-gov-until-feb-12-to-make-changes-to-fiscal-plans Oversight board gives Puerto Rico gov until Feb. 12 to make changes to fiscal plans By Eva Lloréns Vélez on February 5, 2018 SAN JUAN – Puerto Rico Financial Oversight and Management Board … Continue reading

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Puerto Rico’s Exodus Is Speeding the Island’s Economic Collapse

https://www.bloomberg.com/news/articles/2017-06-02/-i-had-to-choose-for-my-family-thousands-fleeing-puerto-rico Puerto Rico’s Exodus Is Speeding the Island’s Economic Collapse by Jonathan Levin @JonathanJLevinMore stories by Jonathan Levin and Rebecca Spalding @rcurtisspaldingMore stories by Rebecca Spalding ‎June‎ ‎2‎, ‎2017‎ ‎6‎:‎00‎ ‎AM‎ ‎-04 Exodus from island means economic resurgence will be … Continue reading

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