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.

#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.

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.

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

“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.”

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.”

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.”

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

“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.