Search Results for: "Financial Oversight and Management Board for Puerto Rico"
Video of the December 4, 2017 meeting in NYC.
This is the board’s seventh meeting.
Ahead of the National Puerto Rican Day Parade in New York on Sunday, members of the Puerto Rico Not For Sale campaign are set to protest on Friday outside National Puerto Rican Day Parade Inc.’s scholarship gala at Gotham Hall in Midtown Manhattan.
On Thursday the U.S. Supreme Court ruled that Puerto Rico’s unelected fiscal control board has “sovereign immunity” and does not have to answer journalists’ requests for government documents.
With rising temperatures and the increasing threat of tropical storms due to climate change menacing Puerto Rico, many fear the islands’ access to electrical power will only worsen under privatization.
Like many firsts of May in the past, this year’s May Day will see workers and activists around the world take to the streets to demand greater labor rights and protections. In Puerto Rico, they will also be condemning displacement and environmental destruction.
Last week a federal judge nullified Puerto Rico’s Labor Reform Law approved only months ago, saying that Gov. Pedro Pierluisi did not provide evidence that the law would not impact the oversight board’s fiscal plan.
A new report from progressive organizations reveals the web of lawyers, lobbyists, trade groups, and cultural institutions that vulture funds use to prey on debt-addled countries like Puerto Rico.
Puerto Rico could experience a spike in its electricity bills for the next 35 years if a debt restructuring proposal is accepted by a federal bankruptcy judge in New York.
Debt restructuring efforts for the Puerto Rico Electric Power Authority’s $9 billion debt have come to a new standstill after almost six years of negotiation. Multiple failed attempts to exit bankruptcy have led nowhere.
Almost $9 billion in bad debt and a half-century of high electricity prices hang in the balance in Puerto Rico.
On the same day it was set to expire, the Puerto Rico Public-Private Alliances granted LUMA Energy an extension of its provisional contract that will only end once the Puerto Rico Electric Power Authority’s debt restructuring is completed.
Three days before LUMA Energy’s contract is set to expire, the Public-Private Partnerships Authority requested authorization to extend LUMA’s provisional contract until the debt restructuring process for the publicly owned Puerto Rico Electric Power Authority is finalized.
President Joe Biden visited Puerto Rico on Monday to announce new hurricane relief projects, two weeks after Hurricane Fiona battered the archipelago. Tens of thousands remain without power, and even more worry that aid promised by Biden will be too little too late.
As Hurricane Fiona bore down on Puerto Rico two weeks ago, the U.S.-imposed fiscal control board and the U.S.-based judge who handles the public electric utility’s debt restructuring deal forced Puerto Rican lawyers to file motions even as the archipelago was experiencing an island-wide blackout.
In the five years since Hurricane María tore through their country, the people of Puerto Rico have made efforts to rebuild in hopes that they would be ready for the next disaster. Hurricane Fiona, a Category 1 storm that swept through the island on Sunday, has shattered such hopes.
The U.S. Court of Appeals for the First Circuit in Boston rejected the Fiscal Control Board for Puerto Rico’s claim that, due to “sovereign immunity,” it did not have to submit to the right of access to information and deliver documents on their processes requested by the Centro de Periodismo Investigativo.
Beginning with public teachers in late January, Puerto Rico has experienced a wave of strikes from public sector workers. The mass absenteeism resulting from each strike has led to them being called a “flu”—“white flu” for striking healthcare workers, “blue flu” for striking police officers.
On Wednesday, the Harvard Kennedy School announced that its webinar on Puerto Rico’s economic outlook was rescheduled for Thursday, February 17, and added another panelist to the list of speakers, which initially featured only two presenters, both non-Puerto Ricans in favor of austerity.
On Wednesday, Power 4 Puerto Rico, a group comprised of diaspora leaders and allies advocating for Puerto Ricans on the island and abroad, released a statement condemning U.S. Judge Laura Taylor-Swain’s approval of a plan to cut Puerto Rico’s public debt by 80 percent and commence debt service payments through 2034
Puerto Rico’s nearly five-year bankruptcy battle was resolved Tuesday after a federal judge signed a plan that slashes the U.S. territory’s public debt load as part of a restructuring and allows the government to start repaying creditors. The plan marks the largest municipal debt restructuring in U.S. history