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Public Debt Audit Committee to Meet ahead of U.S. Treasury Secretary’s Arrival

By on January 18, 2016

SAN JUAN – A commission created last year to audit the island’s $70 billion public debt will have its first meeting Tuesday, a day before U.S. Treasury Secretary Jacob Lew arrives in Puerto Rico.

The Public Debt Audit Committee, a body created under Act 97 of 2015, will be responsible for evaluating the hiring process, refinancing or renegotiation of the public debt, the origin and destination of the resources, and the implementation of programs funded with internal or external debt. The meeting will take place Tuesday afternoon in Senate President Eduardo Bhatia’s office.

“This process goes hand in hand with the constant conversations and the work that has been done for months from the Senate with the Treasury of the United States, whose secretary, Jacob Lew, will be visiting the island on Wednesday,” Bhatia said in a statement.

The commission comprises Bhatia, House Speaker Jaime Perelló, Senate Majority Leader Aníbal José Torres,  Senate Minority Leader Larry Seilhamer, Puerto Rican Independence Party Sen. María de Lourdes Santiago, House Majority Leader Charlie Hernández, House Minority Leader Jenniffer González, Government Development Bank President Melba Acosta, Puerto Rico Statistics Institute Director Mario Marazzi, economist José Alameda, attorney and CPA Juan Lorenzo Martínez, Puerto Rican Workers Union head Roberto Pagán, Bankers Association Executive Director Zoimé Álvarez, Caguas credit union representative Hilario Irma Arroyo and Chamber of Commerce President Frank Medina.

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