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Minority parties concerned over change in Puerto Rico governor’s rep to fiscal board

By on July 20, 2017

SAN JUAN – Popular Democratic Party (PDP) President Héctor Ferrer expressed concern Thursday over Elías Sánchez‘s resignation as the governor’s representative to Puerto Rico’s fiscal oversight board. He said Sánchez has “privileged information” about the island’s fiscal situation that he may use to his benefit or his clients’.

Meanwhile, Puerto Rican Independence Party (PIP) Sen. Juan Dalmau said Sánchez’s resignation “is inconsequential” because “it doesn’t change the adverse conditions Puerto Rico faces.”

Governor’s representative to Puerto Rico fiscal board steps down

“We must raise a…flag of concern that this privileged information that he [Sánchez] has on the country’s financial affairs and the negotiations with different bondholders won’t be used to benefit his future or current clients,” Ferrer told Caribbean Business.

For the PDP leader, Sánchez’s “ephemeral” participation as the government’s representative to the fiscal board was only a type of “link between the pitcher and catcher.” Ferrer believes the government and the board share a similar understanding.

“[Sánchez] contributed to the lack of transparency in processes, the lack of information they didn’t want to release when the press requested it, and when PDP legislators demanded it,” he added.

Puerto Rico governor designates GDB president as his representative to fiscal board

Dalmau said that Sánchez, on behalf of the government, only adopted “an attitude of submission” before “the board’s designs, adopting a plan that threatens with part-time work hours, with salary reductions, with eliminating the bonus, with eliminating essential services, with the dismantling of the University of Puerto Rico, among others.”

“It doesn’t matter who replaces Sánchez. As long as the board exists with its backward and abusive policies that’s a product of our outrageous colonial condition, and on top of that a representative of a submissive and servile government, Puerto Rico will keep facing the same financial and tax adversities, and the dismantling of essential government services,” the senator denounced in a written statement.

With Sánchez’s departure from the board, Gov. Ricardo Rosselló designated Government Development Bank President Christian Sobrino as his new representative before the fiscal entity created by the federal Promesa law.


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