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To safeguard the fiscal stability of Puerto Rico and promote its competitiveness in order to transform our economy into one of the most developed economies in the world, hence, fostering the social and economic enhancement of our people.
September 29, 2015 - Puerto Rico GDB President Melba Acosta Febo Addresses U.S. Senate Finance Committee, Calls for Federal Support for Commonwealth
September 29, 2015 - GDB Files Writ of Mandamus Against Municipal Revenue Collection Center
September 25, 2015 - Working Group Response to Morgan Stanley Sales and Trading Commentary

September 24, 2015 - Working Group Meets with Governor and Legislature Discusses Restructuring Process and Principles

September 24, 2015 - Economic Activity Index for July and August 2015

September 14, 2015 - Puerto Rico Sales and Use Tax Collections Totaled $190.7 Million in August 2015, $22.2 Million Above Estimates

Press See older Press Releases
Titles Property Notices Position Openings
Features Investor Presentation

Puerto Rico Fiscal and Economic Growth Plan

Puerto Rico Fiscal and Economic Growth PlanOn September 9, 2015 the Working Group for the Fiscal and Economic Recovery of Puerto Rico (the Working Group), created by Executive Order of Governor Alejandro García Padilla, released its Fiscal and Economic Growth Plan along with a Commonwealth of Puerto Rico Liquidity Update prepared by the firm Conway MacKenzie.

The creation of the Working Group, as well as the subsequent development of its Fiscal and Economic Growth Plan, was in direct response to the findings of the Commonwealth's fiscal and economic situation and the sustainability of its debt as presented in the report: Puerto Rico - A Way Forward (6/29/15, updated as of 7/13/15) by former IMF economists Dr. Anne O. Krueger, Dr. Ranjit Teja, and Dr. Andrew Wolfe (the Krueger Report).

The Working Group hosted a meeting on July 13, 2015 where Dr. Krueger, Dr. Wolfe, and Melba Acosta Febo briefed members of the investment community on the Report. To view the video-stream replay of the meeting, CLICK HERE. To access the audio replay, CLICK HERE. Other relevant materials presented at the meeting include:


José M. Berrocal Institute for Economics and Finance

José M. Berrocal Institute for Economics and FinanceThe José M. Berrocal Institute for Economics and Finance is a GDB subsidiary created to complement the Bank's mission of promoting economic development by providing specialized training on the theory and practice of public finances and economics to talented young professionals in order to attract them to join the public service. An eight-week Summer Internship Program is the Berrocal Institute’s main initiative towards this goal. To find out more about the Berrocal Institute, visit the Institute’s webpage.

This presentation features the Berrocal Institute’s historic background and mission, as well as the objectives, structure, requirements and calendar of its Summer Internship Program. CLICK HERE to see an informative brochure summarizing several aspects of the Internship Program.


The Municipal Finance Corporation, known by its Spanish acronym COFIM, is a newly created public corporation and instrumentality of the Commonwealth of Puerto Rico, attached to the Government Development Bank. COFIM is authorized to issue bonds and use other financing mechanisms to pay or refinance, directly or indirectly, in whole or in part, the debts of the municipalities of the Commonwealth payable or backed by the 1% municipal sales and use tax.

COFIM was created pursuant to Act 19 of January 24, 2014, which contemplates a new collection method for the 1% municipal SUT that will become effective on September 1, 2014. COFIM will be responsible for running the development of an integrated collection structure that will guarantee funds are received and provide detailed information about such funds. As part of this effort, a group of municipalities will form part of a pilot program for filing new municipal SUT returns and paying the municipal SUT.

Read a Fact Sheet about COFIM and the new collection structure.

For more information on the Municipal Finance Corporation as an entity attached to the GDB, visit the COFIM webpage in the GDB website.

Merchants, you may file the Municipal SUT return and make payments through COFIM's new website at www.cofim.pr.gov.

Press Release: COFIM Extends Due Date to File and Pay the Municipal SUT for 32 Municipalities Integrated to COFIM's New Collection Structure (in Spanish)

Important notice about COFIM


Puerto Rico, La Isla Estrella The All-Star Island

Throughout history, the outstanding performance of the men and women of our Island has been fundamental to our development. The talent of the people of Puerto Rico has been strategic in the Islandís development and prosperity. Our starsí achievements may be seen in all the disciplines, beyond our borders, earning us recognition around the world. By giving the best of him or herself, each Puerto Rican has the potential to stand out. That is what makes us the All-Star Island. Our world-class talent is our most valuable possession and it is key in our mission to create jobs and wealth, attract and develop businesses, and boost tourism.

For more information about investing and doing business in Puerto Rico, visit Business in Puerto Rico.

View a slide presentation prepared by the Department of Economic Development and Commerce: Economic Roadmap.

Mortgage Loan Insurance Program (Act 87)
Mi Casa Propia
In order to incentivize the refinancing of properties, Governor Alejandro GarcŪa Padilla signed Law 129 of August 3, 2014, establishing incentives for the payment of internal revenue stamps and registration vouchers required when obtaining a mortgage loan.

Act 129 allows that deeds of mortgage for refinancing of properties under the Mortgage Loan Insurance Program be exempted, through the Ahorro Hipotecario product, from payment and cancellation of internal revenue stamps and vouchers required by law in the execution of public documents. In addition, for deeds of cancellation of preferred mortgages, a 50% exemption from payment of internal revenue stamps and vouchers is granted. For more information about the Ahorro Hipotecario product, contact your preferred mortgage bank or credit union.

PRHFA - 2011-2018 Strategic Plan (in Spanish)

2013 Low Income Housing Tax Credit Allocation Plan (Final)

           - Annexes A to N

           - Annexes O to P

Puerto Rico Housing Financing Authority Housing Rental under Section 8 Program: (in Spanish)

-Notice to Landlords


Third Amendment to Regulations on Insured Mortgage Reserve (in Spanish)

HOME Program (HUD)

Direct Buyer Assistance (HOME Program) (in Spanish)

List of Repossed Properties

Other PRHFA Notices
Other PRHFA Programs

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     October 2015