Puerto Rico protesters demand removal of Financial Oversight Board

Protesters across 11 municipalities in Puerto Rico demonstrated on Monday to demand the removal of the Financial Oversight and Management Board. The mobilizations, which took place at 14 different locations, coincided with the tenth anniversary of the federal body's creation under the PROMESA Act by the U.S. Congress in 2016.

Labor organizations, community groups, political activists, and retirees participated in the marches. Spokespersons for the Puerto Rican Workers Center and the Citizen Commission for the Audit of Public Credit criticized the Board, alleging that its policies have led to massive public budget cuts, increased costs for essential services like electricity and water, and a higher cost of living without addressing the structural causes of the economic crisis.

While demonstrators characterized the Board as a colonial imposition that has aggravated the territory's economic situation, the Board maintains that its oversight has enabled the restructuring of the majority of public debt and stabilized Puerto Rico's finances.