All posts by José Alvarado Vega
Startups Get a Makeover
Venture Capital Seen as an Alternative for Emerging Fintechs While banks in Puerto Rico are awash in cash, this has not necessarily translated into available financing for startups, especially those seeking to sell new technology. The challenge...
- Posted August 10, 2022
SSI Exclusion Leaves Puerto Rico in the Cold
Associate Justice Sees Potential Repeal of ‘Shameful’ Insular Cases The U.S. Supreme Court ruled last month that the U.S. Constitution does not require Congress to extend Supplemental Security Income (SSI) to residents of Puerto Rico, in a...
- Posted May 13, 2022
HTA Plan Filed in Court Proposes 80% Debt Cut; Requires Restructuring, Toll Hikes
Proposes 80% Debt Cut; Requires Restructuring, Toll Hikes Puerto Rico’s Financial Oversight and Management Board (FOMB) announced on Monday that it had filed a plan of adjustment (POA) in federal court to restructure about $6.4 billion in...
- Posted May 6, 2022
Tug of War on the Energy Front
Blackouts a Part of Painful LUMA Transition; T&D Operator Blames Troubled Grid; Repairs Delayed The Puerto Rico government gave a $1.5 billion, 15-year contract to LUMA Energy LLC in 2020 to turn around the transmission and distribution...
- Posted April 23, 2022
Citizen Groups Request Participation in Prepa Talks
Say Process Leaves Out Key Stakeholders, Utility Customers The Institute for the Competitiveness and Economic Sustainability of Puerto Rico (ICSE) has filed a motion before U.S. District Judge Laura Taylor Swain requesting that the new court-ordered mediation...
- Posted April 22, 2022
Permanent Medicaid Funding Sought
Federal Funding Caps Lead to Exit of Health Personnel The lack of certainty regarding federal funding for Puerto Rico’s health care programs has contributed to the exodus of physicians and other medical providers to other U.S. jurisdictions...
- Posted April 7, 2022
CNE: Prepa Debt Cut Should Be Deeper
At Least 44% Needed to Make Utility Solvent, Think Tank Says A new restructuring support agreement (RSA) for Power Authority (Prepa) would have to cut the utility’s $9 billion legacy debt by at least 44 percent to...
- Posted April 1, 2022
FOMB-Approved Projects to Push Green Energy Share to 23 Percent
18 Renewable PPOAs Conditioned on Cost Controls As Puerto Rico’s Financial Oversight and Management Board (FOMB) “conditionally” approved last week 18 proposed power purchase and operating agreements (PPOAs) between the Puerto Rico Electric Power Authority (Prepa) and...
- Posted March 31, 2022
Gov’t Finances Still a Challenge to Bankruptcy Exit
Work Unfinished on Uniform Commonwealth Accounting Gov. Pedro Pierluisi’s fiscal team says it is charting a path to Puerto Rico’s exit from bankruptcy, despite the unfinished task of creating a sustained and uniform accounting system that would...
- Posted March 25, 2022
Ukraine Crisis Challenges Puerto Rico Economy
Banning of Russian Oil, Commodities Could Lead to Stagflation Puerto Rico faces formidable challenges to its already precarious economy as it braces for the effects of severe sanctions imposed by the United States on Russia, a major...
- Posted March 19, 2022