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[SITUATION] · [QUIET] · [POLITICS]

2 clusters · 6 sources · 3 days · First seen 12 days ago · Last updated 10 days ago

Puerto Rico Financial Oversight Board opposition

Overview

On the tenth anniversary of the PROMESA Act, protesters across 11 municipalities in Puerto Rico demonstrated to demand the removal of the Financial Oversight and Management Board (FOMB). Participants, including labor organizations and community groups, criticized the Board for causing massive public budget cuts and increasing the cost of essential services.

Following these demonstrations, a report titled ‘Lost Decade 2016-2026: The True Face of the Board in Puerto Rico’ was released by the Citizen Commission for the Integral Audit of Public Credit and other civic organizations. The report critiques the FOMB’s management of the territory’s $72 billion public debt, arguing that the oversight process has functioned as a “colonial layer of governance” that prioritizes debt repayment over the economic needs of the local population.

Entities

Puerto Rico · Citizen Commission for the Audit of Public Credit · Financial Oversight and Management Board · Citizen Commission for the Integral Audit of Public Credit · Financial Oversight and Management Board for Puerto Rico

Timeline

10 days ago

[POLITICS] 2 sources
Puerto Rico oversight board faces criticism over decade of debt management
A new report critiques a decade of oversight by Puerto Rico's Financial Oversight and Management Board, labeling it a ‘lost decade’ focused on debt repayment rather than economic reform.
12 days ago

[POLITICS] 4 sources
Puerto Rico protesters demand removal of Financial Oversight Board
Protesters in Puerto Rico held demonstrations across 11 municipalities to demand the removal of the Financial Oversight Board on its tenth anniversary, citing increased costs for essential services.

Sources

claridadpuertorico.com · elespecialitodigital.com · nelpr.com · prensa-latina.cu · sanjuandailystar.com · viphatomayor.com