Author | Lightnews

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · 2d

El #PlanFiscalPR actualizado para CRIM traza la ruta hacia mejorar los recaudos contributivos, lo que les permitiría a los municipios contar con ingresos estables y confiables para ofrecer a los residentes servicios de calidad.
Ahora disponible en español.
Lea el Plan Fiscal: https://bit.ly/3JzKQ4p

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · 6d

El #PlanFiscalPR para COSSEC traza la ruta hacia un mejor sistema cooperativista en Puerto Rico.
Ahora disponible en español.
Lea el Plan Fiscal: http://bit.ly/3JqHUXK

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · 9d

El #PlanFiscalPR para COFINA reafirma su enfoque en cumplir plenamente con sus obligaciones de deuda, aumentar la transparencia y mantener la eficiencia operacional.
Ahora disponible en español
Lea el Plan Fiscal: bit.ly/42P8mks

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Oct 2

The financial stability of PREPA’s pension system has declined for decades as retiree payments grew. PREPA failed to make required contributions, and unrealistic return assumptions worsened the problem.

Read how the system was created and how it ran out of money: bit.ly/3Kvqsl6

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Sep 29

The outcome of the litigation around these six issues is, however, linked with PREPA's debt restructuring and that is why the U.S. District Court for the District of Puerto Rico is the appropriate forum to decide the matter.

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Sep 29

#FOMBPR does not take a position on the six issues recently identified by the P3 Authority. FOMB is not a party to the LUMA Energy contract. P3A selected LUMA and remains responsible for enforcing the contract terms.

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Sep 29

PR’s energy transformation is based on accountability. Electricity in PR is not yet reliable. The people of PR, who retain ownership of the grid and power plants, have every right to hold private operators accountable to the terms of the operating & management agreements.

Statement: bit.ly/46K4a6m

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Sep 24

#FOMBPR Chair John Nixon met with the Puerto Rico Manufacturers Association to discuss the critical role of business in Puerto Rico’s economic future, the path to sustainable growth, and FOMB’s priorities.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Sep 12

#FOMBPR and the Puerto Rico Department of Health are working together to strengthen the Island’s healthcare system. This collaboration is focused on four initiatives designed to improve access to care and support healthcare professionals.

Read the blog: bit.ly/4mcDD7u

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Aug 6

Current members Andre G. Biggs and John E. Nixon provide continuity for the operations of the Oversight Board and its staff in accordance with PROMESA.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Aug 6

The Oversight Board continues its day-to-day operations and its work with the administration of Governor Jenniffer González Colón and the Puerto Rico Legislative Assembly as mandated under PROMESA.

Read the statement: bit.ly/46L61ty

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Aug 5

The Oversight Board will continue to work to fulfill the mandate of PROMESA and in the interest of the people of Puerto Rico.

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Aug 5

The Oversight Board has been informed by the White House that President Donald Trump terminated the following five board members from their position on the Oversight Board: Arthur J. Gonzalez, Cameron McKenzie, Betty A. Rosa, Juan A. Sabater, and Luis A. Ubiñas.

Read the statement: bit.ly/40UvUU1

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 24

#FOMBPR Executive Director Robert Mujica met with PR Chamber President Margaret Ramírez, Executive Director Liza García & Director Rodrigo Zavala to discuss priorities for PR’s future, from energy to economic growth, focusing on what matters most to businesses & communities.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 17

“Debt service costs are now affordable. Government spending is now aligned with revenues. Structural deficits have been eliminated. Pensions are funded. Congress gave Puerto Rico a path out of crisis. Our commitment now is to finish the job.”

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 17

In 2016, “the monumental size of Puerto Rico’s liabilities – over $130 billion – was comparable to a sovereign debt crisis like Argentina or Greece. PROMESA is working – and with the Oversight Board’s support, Puerto Rico has made significant progress.”

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 17

My parents, dedicated public servants, taught me that good government can change lives. That is what guides me in my work for PR. I came here to help build a future where families have opportunities and where there is a path for progress. This is personal to me.”

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 17

FOMBPR Executive Director Robert Mujica told Congress: “My family left PR and found opportunity in New York. My grandfather owned a grocery store, where I learned to understand the discipline and responsibility that comes with running a business.

Testimony: bit.ly/4ltg0rO
Hearing: bit.ly/4lCRODA

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 10

#FOMBPR Executive Director Robert Mujica met with AAFAF interns to discuss Puerto Rico’s fiscal outlook, the role of the Board, and the values that shape lasting careers. “Reputation is your best letter of introduction,” he said, stressing integrity, loyalty, and commitment.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 10

Arnaldo Cruz, #FOMBPR Deputy Executive Director, spoke at the annual conference of the Asociación de Salud Primaria de Puerto Rico on next steps with the Department of Health, including proposals on medical residencies, centers of excellence, telemedicine, and incentive programs.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jul 2

Safe drinking water is essential. #FOMBPR approved over $65M in federal loans to support 29 PRASA projects—like replacing lead pipes and expanding treatment in municipalities like Ponce and Juncos.

Blog: bit.ly/3IrXH7C
PRASA Fiscal Plan: bit.ly/3Gop2Hp

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jun 28

The certified budget prioritizes health, education, public safety, housing, and retirees, which together represent more than 60% of total government funding.

Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jun 28

“Together, we developed a responsible budget that reflects the unprecedented uncertainty around federal funding, economic growth, and tax revenue,” said FOMB Executive Director Robert Mujica.

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jun 28

#FOMBPR certified the $32.7 billion fiscal year 2026 consolidated budget for the Commonwealth of PR, developed jointly with the administration of Governor Jenniffer González Colón and the Legislative Assembly.

Read the media release: bit.ly/3I6WIcZ

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Financial Oversight & Management Board for Puerto Rico @fombpr.bsky.social · Jun 17

The updated #PRFiscalPlan for Cossec is a roadmap to a stronger cooperative system in PR. The plan focuses on improving oversight, requiring cooperatives to switch to more efficient accounting standards, and other steps necessary to modernize the cooperative system.

Fiscal Plan: bit.ly/4l9HmT9