Monday, May 21, 2018

Puerto Rico Treasury Department’s account balance decreases to $2.65B

By on May 16, 2018

The Treasury Department’s single account went down to $2.65 billion as of May 4 from the previous week, according to the latest report issued by the Puerto Rico Fiscal Agency and Financial Advisory Authority.

The weekly cash flow is $75 million and the year to date net cash flow is $852 million. Total general collections were $89 million even though the government had projected $102 million for the week that ended May 4.

On the week of April 27, the TSA account had reached $2.73 billion.

The TSA has been increasing at least since March before coming down the week of May 4. The report does not say the reason behind the current reduction.

The government has yet to answer the question as to whether the balance of the TSA account has affected the the island’s ability to receive community disaster loans since the federal government had said a few months ago that it was not going to release funds unless the TSA went down to $1 billion.

Caribbean Business contacted La Fortaleza, which referred the matter to the Treasury Department, which has not provided an immediate answer.

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