(February 24, 2017 – Washington, DC) In a crucial moment in Puerto Rican history, Governor Ricardo A. Rosselló held a top-level meeting with the Hon. Steve Mnuchin, United States Secretary of Treasury, to discuss the economic reform measures taken by the new Administration as the February 28th deadline to submit a fiscal plan to the PROMESA Control Board approaches.
During his meeting, the Governor informed Secretary Mnuchin of the efforts taken by the Government to put Puerto Rico’s financial house in order.
In his first 50 days in office, Mr. Rosselló has signed more than 20 bills and Executive Orders that set the foundation for strong economic growth by shrinking an oversized government structure, reforming the labor market, reducing political appointments and agencies’ spending, among other measures.
In a written statement, the Governor expressed that his Office ¨is committed to establishing a working relationship with the Treasury, and will continue to foster open dialogue with Secretary Mnuchin to advance Puerto Rico’s economic transformation.
Rosselló Nevares was joined by the director of the Puerto Rico Federal Affairs Administration (PRFAA) in Washington, DC, Carlos Mercader.
Late last year, Congress passed the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) to create a Fiscal Control Board to help the Island address its dire financial situation, and ensure its debt obligations are met. Puerto Rico’s previous Administration did not comply with debt payments, defaulting on millions of dollars of bond payments.
In January 2017, Governor Ricardo A. Rosselló assumed power with the promise of immediately addressing the Island’s fiscal responsibilities, cut red tape, and make the US territory once again an attractive investment destination.