Etiqueta: Fuentes Strategies

Spotlight on Puerto Rico: Congressional Task Force releases prelim report light on substance

Spotlight on Puerto Rico: Congressional Task Force releases prelim report light on substance

By Jennice Fuentes / Fuentes Strategies The Congressional Task Force on Puerto Rico’s Economic Development released a progress report last week, as mandated under the PROMESA law, that did not include any specific policy recommendations. The 8-member group complained about the lack of accurate data regarding Puerto Rico’s economic and financial status, and said they ...

Washington DC, Capitolio

Rumors of Fiscal Control Board chairman, executive director appointees intensify

By Jennice Fuentes / Fuentes Strategies Recurring rumors are circulating that the fiscal control board will select José Carrión or Carlos García as its chairman. According to sources, the board is also set to appoint Bill Cooper as executive director of the board. Cooper, Staff Director of the House Energy and Mineral Resources Subcommittee and ...

Medicare

CMS proposes increase in Medicare reimbursement for doctors in Puerto Rico

By Jennice Fuentes / Fuentes Strategies The Centers for Medicare and Medicaid Services (CMS), which falls under the U.S. Department of Health and Human Services (HHS), released a proposed rule change that would increase reimbursement rates for the close to 10,000 doctors in Puerto Rico that provide Medicare services. The change is open for public ...

UBS

House passes bill to have SEC regulate investment firms in Puerto Rico

By Jennice Fuentes / Fuentes Strategies Yesterday, the U.S. House of Representatives passed a bill (HR 5322) that would close a loophole allowing investment firms in Puerto Rico to circumvent Securities and Exchange Commission (SEC) regulations that apply to the same type of companies in the U.S. mainland. Under the bill, SEC regulations will now ...

Puerto Rico spent $250m on consultants

By Jennice Fuentes / Fuentes Strategies The government of the Commonwealth of Puerto Rico and its agencies have spent close to $250 million on consultants during the last 36 months. According to the Comptroller of Puerto Rico, $170 of the $250 million were spent on four companies alone: $68 million on Millstein & Co., $40 ...

Banco Gubernamental de Fomento

GDB receivership not in the cards, for now

By Jennice Fuentes / Fuentes Strategies The Government Development Bank’s (GDB) precarious fiscal state has prompted several analysts to call for it to be put in receivership, and for eventual liquidation. Candidate for Governor of the Popular Democratic Party (PDP) David Bernier publicly called on the Governor to take that step. The García Padilla Administration ...

Gobernador presupuesto 2014-2015

Governor of Puerto Rico justifies default, signs new budget

By Jennice Fuentes / Fuentes Strategies Governor Alejandro García Padilla cited the newly released audited financial reports for the government’s finances (CAFR FY 2014) as justification for foregoing the payment of interest on bonds, contrary to his earlier pledges. The Governor said that even with a partial government shutdown, there would not be sufficient funding ...

Puerto Rican think tank sets up shop in DC

By Jennice Fuentes / Fuentes Strategies The Center for the New Economy (CNE) announced that they will have a physical presence in Washington, DC in order to influence the upcoming debates on the newly created Fiscal Control Board, the bipartisan Congressional Working Group on Puerto Rico’s economy, and other topics of concern. CNE President Miguel ...

Banco Gubernamental de Fomento

Melba Acosta resigns from GDB

By Jennice Fuentes / Fuentes Strategies Melba Acosta Febo today resigned from her post as President of the Government Development Bank. Her departure from the bank will be effective on July 31. Acosta Febo was the Secretary of the Treasury at the beginning of Governor Alejandro García Padilla’s term. Her closest advisors, Jorge Clivilles and ...