March 4, 2021

Uncertain How Governor Will Present Fiscal Plan to Board

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By Luis J. Valentín From Caribbean Business SAN JUAN — On Oct. 14, Gov. Alejandro García Padilla will have his first at bat in front of Promesa’s fiscal control board, when he presents it with the latest version of his administration’s long-term fiscal plan for Puerto Rico. La Fortaleza confirmed the information to Caribbean Business, […]

La Fortaleza: GDB interest payment wasn’t made

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By Luis J. Valentín From Caribbean Business SAN JUAN — After hours of much deliberation among Gov. Alejandro García Padilla and his administration’s fiscal team, a $28 million interest payment on Government Development Bank (GDB) debt due Aug. 1 failed to be authorized before midnight. “The GDB interest payment was not made. The GDB has requests […]

Melba Acosta resigns as GDB President

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By Luis J. Valentín From Caribbean Business SAN JUAN — On Thursday, La Fortaleza announced the resignation of Government Development Bank (GDB) President & Chairwoman Melba Acosta, effective July 31. In her resignation letter dated July 6, she says it is time to refocus her professional career, after 12 years of public service, three of which […]