The FOMB for Puerto Rico certified a new fiscal plan for the central government on Friday, April 23. The new Fiscal Plan, just like the others, is based on four core elements: (1) budget consolidation (spending cuts and revenue increases); (2) structural reforms; (3) debt relief; and (4) federal funding for disaster relief and COVID-19 assistance.
This week, we analyze the recent report released by HUD’s Inspector General, which describes the Trump administration’s shenanigans in disbursing hurricane relief aid to Puerto Rico. Then we provide a brief analysis of the role of federal funds in the new Fiscal Plan for Puerto Rico, certified by the FOMB. Our Data Snapshot presents a quick update on the status of CDBG-DR funding for Puerto Rico.
The agreement between PREPA and LUMA Energy for the operation and management of Puerto Rico’s electric grid has been in the public spotlight recently. Many private sector organizations, as well as multiple NGOs, have pointed out the deficiencies of that agreement. Yet, canceling or terminating the agreement with LUMA will not solve Puerto Rico’s electricity problems.
This week, we a look at how Puerto Rico has fared in Washington, D.C. during the first one hundred days of the Biden Administration. Then we take a look at some of the lessons we can draw from the international experience restructuring electricity markets. Our Data Snapshot this week focuses on the U.S. National Intelligence Council’s forecast of an era of state tension, turbulence, and transformation, as the gap between public demands and state capabilities expands.
In Washington D.C., the symbolic deadline for a new President to make a lasting imprint on the nation is exactly 100 days. After all, first impressions matter. As the Administration and the new Congress near their 100-day mark respectively Puerto Rico has, for better or worse, not been lost in the mix of national priorities.
In this edition, we share highlights summarizing CNE’s remarks in the April 12 public hearing where the contract between PREPA and LUMA was discussed. We also include links to each of the major concerns of the contract that CNE identified in its report and recommendations as to how to approach them.
Ponencia del Centro para una Nueva Economía ante la Comisión de Desarrollo Económico, Planificación, Telecomunicaciones, Alianzas Público Privadas y Energía de la Cámara de Representantes de Puerto Rico. Vista Pública Sobre la R. de la C. 136.
Weeks before the first reported case of Covid-19 in Puerto Rico, it was evident that our public health system was unfit to address the looming crisis.