Open Fiscal Oversight and Management Board

IOS Partners, Inc and IOSSoft Inc. were invited to participate at the Sixth Open Fiscal Oversight and Management Board for Puerto Rico meeting.  The event took place on Friday, March 31, 2017 at the Dr. Pedro Rosselló González Puerto Rico Convention Center in San Juan Puerto Rico.

The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) is a US federal law that was  enacted by the United States Congress which establishes an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects in order to combat the Puerto Rican government-debt crisis.

During the meeting, the fiscal board received testimony from a broad base of international and local stakeholders representing different economic sectors on the general subject of economic development.  Stakeholders also provided ideas and recommendations on how to restore positive economic growth in Puerto Rico.

The board searches for mechanisms that allows for the establishment of monitorable fiscal targets and policy reforms. The panel discussed the benefits of enacting and implementing the basis for a strong fiscal regime for Puerto Rico, and how it might fit within the broad framework of any federal policy that addresses the island’s current fiscal and economic crisis.

For more information, please visit the board’s website at: .

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IOS Partners

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