Etiqueta: Jennice Fuentes

Raúl Maldonado

Washington Watch – Spotlight on Puerto Rico: Treasury Secretary Resigns, Governor Reshuffles Top Financial Spots

By Jennice Fuentes / Fuentes Strategies Treasury Secretary Teresa Fuentes resigned in a surprise move this week. In her resignation letter, the former partner at Ernst and Young said that the Governor should have a Treasury Secretary that shares his public policy views. She also alluded to the need for compassion and love of country in the Island’s ...

José Carrión

Washington Watch – Spotlight on Puerto Rico: FOB Pushes for Austerity, Reforms in Op-ed

By Jennice Fuentes / Fuentes Strategies In an opinion editorial published in the Washington Post, Fiscal Oversight Board (FOB) Chairman José Carrión and FOB member Andrew Biggs blamed the Government of Puerto Rico’s unwillingness to implement so-called “structural reforms” for unrealized economic potential. Carrión and Biggs cited their own projections of economic growth and budget surpluses due to ...

huracán maría

Washington Watch – Spotlight on Puerto Rico: HUD Stalls Transfer of CDBG Funds

By Jennice Fuentes / Fuentes Strategies El Nuevo Día reports that the U.S. Department of Housing and Urban Development (HUD) is currently waiting for the Puerto Rican government to show that it can properly manage the $1.5 billion in Community Development Block Grants for Disaster Recovery (CDBG-DR) that have been assigned to the Island before it begins to ...

Washington Watch – Spotlight on Puerto Rico: Governor Ricardo Rosselló Pursues More Help from Congress

Washington Watch – Spotlight on Puerto Rico: Governor Ricardo Rosselló Pursues More Help from Congress

By Jennice Fuentes / Fuentes Strategies Governor Ricardo Rosselló sent a letter to Congressional leaders requesting additional billions in federal funding. In the letter, the Governor listed his priorities for the lame-duck Congressional session and requested an additional disaster appropriation of $600 million for the Nutrition Assistance Program (NAP) and another $3.2 billion for Medicaid. In his letter ...

Washington Watch – Spotlight on Puerto Rico: POB Creditors Stand to Lose After Court Puts Their Claims in Doubt

By Jennice Fuentes / Fuentes Strategies Federal Judge Laura Taylor Swain, appointed by Chief Justice John Roberts to oversee the Puerto Rico debt restructuring process mandated by PROMESA, ruled that the creditors who won Pension Obligation Bonds (POBs) did not properly draft the paperwork awarding them a lien over the Retirement Systems Administration’s (ASR in Spanish) assets. This ...

aee prepa

Washington Watch – Spotlight on Puerto Rico: Governor Announces Plans to Privatize PREPA

By Jennice Fuentes / Fuentes Strategies Governor Ricardo Rosselló announced his intention to sell the Electric Power Authority’s generation assets and enter into public private partnerships (PPPs) for the distribution and transmission of electricity in Puerto Rico, a process anticipated to take 18 months. The Governor’s decision opens the door to a potential legal dispute with PREPA’s creditors. ...

Washington Watch - Spotlight on Puerto Rico: Puerto Rico increasingly anxious as tax reform passes Senate

Washington Watch – Spotlight on Puerto Rico: Puerto Rico increasingly anxious as tax reform passes Senate

By Jennice Fuentes / Fuentes Strategies The Senate voted to pass their version of tax reform in the early hours of Sunday morning, increasing anxiety among Puerto Rican government and business leaders. Both the Senate and House versions of tax reform consider Puerto Rico a foreign jurisdiction for tax purposes, despite its status as a Commonwealth under the ...

ricardo rossello

Washington Watch, Puerto Rico Special Edition: Federal Judge Blocks FOB PREPA appointment

By Jennice Fuentes / Fuentes Strategies In an unexpected move, federal judge Laura Taylor Swain decided not to confirm the appointment of Noel Zamot as Chief Transformation Officer of the Electric Power Authority (PREPA). Zamot was appointed by the Fiscal Oversight Board (FOB) in the wake of the recently canceled $300 million contract with Whitefish Energy. Judge Swain ...

Ricardo Ramos

Spotlight on Puerto Rico: PREPA Chief Skips Congressional Hearing; Committee opens door for PROMESA revisions

By Jennice Fuentes / Fuentes Strategies Electric Power Authority (PREPA) Executive Director Ricardo Ramos was scheduled to testify before the House Natural Resources Committee on Tuesday. However, late Monday night Ramos sent a letter to Chairman Rob Bishop (R-UT) notifying him that he would not be in attendance, citing the need to help PREPA rebuild the Island’s electricity ...