Monday, October 18, 2021

All posts by Luis J. Valentín Ortiz

  • Puerto Rico Treasury Continues Closing Tax-evading Businesses

    San Juan — On Thursday, Puerto Rico Treasury officials embargoed four additional businesses for evading their tax obligations, this time to the tune of $2.7 million in total, the agency announced in a statement. “During today’s operation,...

    • Posted February 4, 2016
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  • House Speaker Perelló: Federal Fiscal Control Board a Fact

    SAN JUAN — As Congress continues to mull legislation to address Puerto Rico’s fiscal and economic woes — and the commonwealth government continues to push for debt-restructuring tools — House Speaker Jaime Perelló believes a federal oversight...

    • Posted February 4, 2016
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  • [Update] Puerto Rico Gov’t Officials, Advisers to Brief Congress on Friday

    SAN JUAN – On Friday, Puerto Rico government officials and advisers will brief U.S. Congress staff on the island’s latest developments on its fiscal and economic crisis, as the Alejandro García Padilla administration continues to urge for...

    • Posted February 4, 2016
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  • Republican Rep. Young Joins as Co-sponsor of Bill to Allow Puerto Rico Access to Chapter 9

    SAN JUAN – Don Young, the Republican representative from Alaska and chair of the U.S. House Indian, Insular & Alaska Native Affairs Subcommittee, has joined as co-sponsor of a bill that would give the commonwealth the choice...

    • Posted February 4, 2016
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  • Puerto Rico Government Puts Forth Debt-Restructuring Plan

    Creditors Call Effort Into Question With the Puerto Rico debt-crisis saga in crescendo, several developments on different fronts took place this week, as the commonwealth continues to grapple with a fiscal crunch that slowly but surely keeps...

    • Posted February 4, 2016
  • Puerto Rico Gov’t Continues Efforts Against Zika, Influenza

    SAN JUAN — Puerto Rico government officials continue to take preventive measures against influenza and Zika — a mosquito-borne virus that was recently declared a global emergency and that have been particularly linked to microcephaly on newborns,...

    • Posted February 3, 2016
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  • Hearings on Prasa’s Securitization Bill Kick Off; Aimed at Avoiding Rate Hike in Summer

    SAN JUAN — The Puerto Rico Aqueduct & Sewer Authority (Prasa) supported on Tuesday legislation to implement a securitization mechanism that would facilitate the utility’s access to external financing at reasonable rates, while ensuring the continuation of...

    • Posted February 2, 2016
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  • Unfunded Pension Funds Ticking Time Bombs

    Lower Government Funding Hinders Stability of P.R.’s Three Main Retirement Systems In 2013, the Alejandro García Padilla administration, which had just entered office, enacted legislation to reform Puerto Rico’s ailing retirement systems, as their assets were quickly...

    • Posted February 1, 2016
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  • No Audited Financial Statements Yet; Draft Could be Released This Week

    SAN JUAN – Puerto Rico’s audited financial statements for fiscal year 2014 won’t be ready until at least the end of March, while a draft of the statements is expected to be made public within the next...

    • Posted February 1, 2016
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  • Puerto Rico Releases Debt-Restructuring Plan

    SAN JUAN – As previously anticipated by Caribbean Business, the Puerto Rico government has made public its debt-restructuring plan, a voluntary exchange proposal that would reduce the commonwealth’s tax-supported debt from $49.2 billion to $26.5 billion and...

    • Posted February 1, 2016