Puerto Rico Conduct Policies for Board Members
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How to fill out Conduct Policies For Board Members?
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FAQ
What is PROMESA? The Puerto Rico Oversight, Management, and Economic Stability Act, (PROMESA) was signed into law by President Barack Obama on June 30, 2016, to allow Puerto Rico to restructure its debt and achieve fiscal responsibility.
The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) is a U.S. federal law enacted in 2016 that established a financial oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects in order to combat the Puerto Rican government-debt ...
In 2016, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), which created the Puerto Rico Financial Oversight and Management Board to restructure the Commonwealth's unsustainable burden of more than $72 billion in debt and more than $55 billion in unfunded pension liabilities.
PROMESA gives the Oversight Board two mandates: To help Puerto Rico achieve fiscal responsibility with pro-growth fiscal reforms and renew access to capital markets.
Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) in 2016 to provide Puerto Rico and other U.S. Territories a legal path to restructure their public debt.
When PROMESA was enacted, Puerto Rico faced an unsustainable burden of more than $70 billion in debt and more than $55 billion in unfunded pension liabilities with no legal path to restructure its liabilities and stabilize its finances. Puerto Rico had lost access to capital markets.