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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.

August 19, 2014 - Document: Scope of CRO Authority (PREPA)

 

August 14, 2014 - PREPA Reaches Agreements with Creditors

 

August 7, 2014 - Treasury: Strong Start to FY 2015: July 2014 Revenues Exceed July 2013 Revenues by $129 Million and Estimates by $37 Million

 

August 7, 2014 - Treasury: General Fund Revenues - Monthly Revenue Estimates Distribution

 

August 1, 2014 - GDB Releases June 2014 Economic Activity Index

 
July 31, 2014 - Treasury Secretary and GDB Chairman Comment on Standard & Poor’s Ratings Services Report
 
July 24, 2014 - Puerto Rico Government Opposes Doral Financial Corp’s Request for Declaratory Judgment and Is Committed to Vigorously Defend Interests of the People of Puerto Rico
 

 
Property Notices Position Openings

July 17, 2014 Investor Webcast Registration InformationInvestor Webcast: Update on Fiscal and Economic Progress (July 2014)
On July 17, 2014, Puerto Rico's Government Development Bank, Treasury Department, Office of Management and Budget, and Department of Economic Development and Commerce hosted a joint webcast to update the investment community on the Commonwealth’s fiscal and economic progress.
Webcast Replay and Presentation


 

Recovery ActPuerto Rico Public Corporation Debt Enforcement and Recovery Act
On June 28, 2014, Governor García Padilla signed into law a bill for debt enforcement and recovery of public corporations. The main purpose of the Recovery Act, Law No. 71, is to provide a clear legislative framework for certain public corporations that are experiencing severe financial stress to overcome their financial obstacles through an orderly, statutory process that allows them to handle their debts fairly and equitably, while ensuring the continuity of essential services to citizens and infrastructure upgrades. Read the Recovery Act. (The law was passed in both English and Spanish; the English text begins on page 74.) To view a summary on this Law, click HERE.
Fact Sheet of the Recovery Act.

On July 21, 2014, Puerto Rico and PREPA vigorously defended the constitutionality of the Recovery Act in motions seeking dismissal of a lawsuit brought by two funds invested in PREPA bonds. Read the related press release, the Motion to Dismiss filed by the Commonwealth, the Governor and the GDB , and PREPA's Motion to Dismiss.





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.



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 informative brochure features the Berrocal Institute’s historic background and mission, as well as its Summer Internship Program's structure, requirements and objectives.


Pension Reform: The Numbers Speak for Themselves

 

Pension Reform: The Numbers Speak for Themselves.

To view the reportís enlarged tables and graphics click HERE.

Pension Reform Act, Law No. 3 of April 4, 2013. Click HERE to read the official English translation of the Act issued by the Puerto Rico Office of Legislative Services.

 




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       August 2014