The Financial Oversight and Management Board for Puerto Rico has announced that it will meet this Saturday at 8:30 AM Atlantic Standard Time at the Fajardo, Puerto Rico resort — distant from the populous San Juan metropolitan area — at which it has met previously.
As the panel had previously advised, it will act formally to delay the deadline for a Rossello fiscal plan proposal from January 15th until February 28th and to delay the stay on litigation to force government debt payments from February 15th until May 1st, as authorized by the Puerto Rico Oversight, Management and Economic Stability Act of 2016 (PROMESA).
During the meeting, the Board will have a presentation of its own on its January 18th fiscal plan “targets” — although its major policy suggestions have been rejected by Rossello.
There will also be a Rossello Administration briefing on the Government of Puerto Rico’s liquidity, relating it to the last audited financial statements, which were for the year ended June 30, 2014. This is intended to provide a baseline for the Administration’s fiscal plan.
The meeting will be streamed live at www.oversightboard.pr.gov.