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Author: Daniel Ziebarth

End of impasse between Puerto Rico and the Federal officials on loan

After months of delay, Governor Ricardo Rosselló (D, NPP) of Puerto Rico announced on Thursday, March 22 that he had reached a deal with US Treasury Secretary Steven Mnuchin concerning the release of community disaster loans to assist Puerto Rico in recovery efforts. Public officials in Puerto Rico will be able to access community disaster loan funds as they see fit until March 2020 as the territory’s cash balance falls below $1.1 billion, on the approval of a appointed board overseeing the territory’s finances and the judge overseeing its bankruptcy deal. Governor Rosselló had previously criticized Mnuchin for failing...

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Puerto Rico seeks school privatization as part of economic recovery

As residents of Puerto Rico continue to rebuild following Hurricane Maria, the US territory also remains in the midst of a massive debt crisis. One area that will see major reform as officials hope to cutback on government spending is education. Governor Ricardo Rosselló has announced his plan to close over 300 public schools in Puerto Rico, which amounts to a decrease of approximately 30% of public schools located in the territory. Over 140,000 Puerto Ricans had left the territory for the mainland US by November, 2017, with approximately 14,000 being public school students,and that number has grown to...

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Governor Rosselló submits revised fiscal plan for Puerto Rico

Governor of Puerto Rico Ricardo Rosselló submitted a revised fiscal plan to Financial Oversight and Management Board for the US territory on Tuesday, February 13 in an attempt to rebuild Puerto Rico’s economy and recover from financial and natural disasters the territory has faced in recent months. The submitted plan paints a bleak picture for Puerto Rico in the near future, in which there will be an expected 8 percent fall in population and 11 percent decrease in overall economic activity. Another concern outlined in the plan pertains to the territory’s ability to alleviate debt burdens and pay off...

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US territories leading on switch to solar energy

In the midst of modern headlines and debate pertaining to the way in which climate change will affect countries across the globe, US territories are leading the way in terms of shifting energy use away from fossil fuels and towards solar power. In Puerto Rico, solar energy has been central to the rebuilding process and recovery, particularly through the use of solar energy to power healthcare facilities. Not only has solar power been increasingly utilized in Puerto Rico, but expanding the use of solar energy has become a primary goal for many residents and officials going forward. Cutting-edge technology...

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Guam Memorial Hospital funding in dispute between business and public officials

Chamber of Commerce members and public officials in Guam are currently proposing various solutions for funding woes that are facing the Guam Memorial Hospital. At the center of discussion surrounding funding for the hospital is a recently introduced bill, Bill 230-34. Bill 230-34, which was introduced to the Legislature of Guam by the Governor of Guam, Eddie Calvo ®, on January 11, 2018 and is sponsored by the Committee on Rules, has proposed to close funding gaps for the Guam Memorial Hospital through the removal of tax exemptions on gross receipts entities such as banks, insurance providers, and wholesalers....

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