Financial Oversight & Management Board for Puerto Rico

The financial stability of PREPA’s pension system has declined for decades as retiree payments grew. PREPA failed to make required contributions, and unrealistic return assumptions worsened the problem.

Read how the system was created and how it ran out of money: bit.ly/3Kvqsl6

The outcome of the litigation around these six issues is, however, linked with PREPA's debt restructuring and that is why the U.S. District Court for the District of Puerto Rico is the appropriate forum to decide the matter.

#FOMBPR does not take a position on the six issues recently identified by the P3 Authority. FOMB is not a party to the LUMA Energy contract. P3A selected LUMA and remains responsible for enforcing the contract terms.

PR’s energy transformation is based on accountability. Electricity in PR is not yet reliable. The people of PR, who retain ownership of the grid and power plants, have every right to hold private operators accountable to the terms of the operating & management agreements.

Statement: bit.ly/46K4a6m

#FOMBPR Chair John Nixon met with the Puerto Rico Manufacturers Association to discuss the critical role of business in Puerto Rico’s economic future, the path to sustainable growth, and FOMB’s priorities.

#FOMBPR and the Puerto Rico Department of Health are working together to strengthen the Island’s healthcare system. This collaboration is focused on four initiatives designed to improve access to care and support healthcare professionals.

Read the blog: bit.ly/4mcDD7u

Current members Andre G. Biggs and John E. Nixon provide continuity for the operations of the Oversight Board and its staff in accordance with PROMESA.

The Oversight Board continues its day-to-day operations and its work with the administration of Governor Jenniffer González Colón and the Puerto Rico Legislative Assembly as mandated under PROMESA.

Read the statement: bit.ly/46L61ty

The Oversight Board will continue to work to fulfill the mandate of PROMESA and in the interest of the people of Puerto Rico.

The Oversight Board has been informed by the White House that President Donald Trump terminated the following five board members from their position on the Oversight Board: Arthur J. Gonzalez, Cameron McKenzie, Betty A. Rosa, Juan A. Sabater, and Luis A. Ubiñas.

Read the statement: bit.ly/40UvUU1

#FOMBPR Executive Director Robert Mujica met with PR Chamber President Margaret Ramírez, Executive Director Liza García & Director Rodrigo Zavala to discuss priorities for PR’s future, from energy to economic growth, focusing on what matters most to businesses & communities.

“Debt service costs are now affordable. Government spending is now aligned with revenues. Structural deficits have been eliminated. Pensions are funded. Congress gave Puerto Rico a path out of crisis. Our commitment now is to finish the job.”

In 2016, “the monumental size of Puerto Rico’s liabilities – over $130 billion – was comparable to a sovereign debt crisis like Argentina or Greece. PROMESA is working – and with the Oversight Board’s support, Puerto Rico has made significant progress.”

My parents, dedicated public servants, taught me that good government can change lives. That is what guides me in my work for PR. I came here to help build a future where families have opportunities and where there is a path for progress. This is personal to me.”

FOMBPR Executive Director Robert Mujica told Congress: “My family left PR and found opportunity in New York. My grandfather owned a grocery store, where I learned to understand the discipline and responsibility that comes with running a business.

Testimony: bit.ly/4ltg0rO
Hearing: bit.ly/4lCRODA

#FOMBPR Executive Director Robert Mujica met with AAFAF interns to discuss Puerto Rico’s fiscal outlook, the role of the Board, and the values that shape lasting careers. “Reputation is your best letter of introduction,” he said, stressing integrity, loyalty, and commitment.

Arnaldo Cruz, #FOMBPR Deputy Executive Director, spoke at the annual conference of the Asociación de Salud Primaria de Puerto Rico on next steps with the Department of Health, including proposals on medical residencies, centers of excellence, telemedicine, and incentive programs.

Safe drinking water is essential. #FOMBPR approved over $65M in federal loans to support 29 PRASA projects—like replacing lead pipes and expanding treatment in municipalities like Ponce and Juncos.

Blog: bit.ly/3IrXH7C
PRASA Fiscal Plan: bit.ly/3Gop2Hp

The certified budget prioritizes health, education, public safety, housing, and retirees, which together represent more than 60% of total government funding.

“Together, we developed a responsible budget that reflects the unprecedented uncertainty around federal funding, economic growth, and tax revenue,” said FOMB Executive Director Robert Mujica.

#FOMBPR certified the $32.7 billion fiscal year 2026 consolidated budget for the Commonwealth of PR, developed jointly with the administration of Governor Jenniffer González Colón and the Legislative Assembly.

Read the media release: bit.ly/3I6WIcZ

The updated #PRFiscalPlan for Cossec is a roadmap to a stronger cooperative system in PR. The plan focuses on improving oversight, requiring cooperatives to switch to more efficient accounting standards, and other steps necessary to modernize the cooperative system.

Fiscal Plan: bit.ly/4l9HmT9

The 2025 hashtag#PRFiscalPlan is available. COFINA remains focused on fully meeting its debt obligations, increasing transparency, and reducing operating costs.

Read the Fiscal Plan: bit.ly/3SPJovL

#FOMBPR Deputy Executive Director Arnaldo Cruz joined the XIV Foro de Auditoría Interna hosted by the Colegio de Contadores Públicos Autorizados de PR to discuss PR’s fiscal transformation: government budget controls, budget best practices, centralized financial systems, and fiscal stability.

At the #EconomicForecastingSymposium, hosted by #FOMBPR, economists shared their perspectives on the economic outlook for PR and the U.S.

The symposium made clear that while PR has opportunities, it must prepare for a future without extraordinary federal funding.

Blog: bit.ly/3FUmsIR

El #PlanFiscalPR actualizado de PRIDCO, certificado por segundo año y trabajado junto al Gobierno, propone una ruta hacia la sostenibilidad, mejores prácticas de arrendamiento e inversiones clave para impulsar su cartera de propiedades y el desarrollo económico en PR.

Lea el plan: bit.ly/4mVBy1t

The updated PRIDCO #PRFiscalPlan, certified for a second year and developed with the Government, lays out a strategy for long-term stability, better leasing practices, and smart investments to boost PRIDCO properties and support economic growth across Puerto Rico.

Fiscal Plan: bit.ly/4mVBy1t

The updated #PRFiscalPlan for HTA PR lays out a path to better roads, safer travel, and improved public transportation across Puerto Rico. A well-functioning transit system is essential to keeping the Island moving. bitly.cx/TYHO0

#FOMBPR approved $12.6M in general funds to ensure continuity of student therapies while the US Department of Education reviews PRDE’s request. Approval depends on PRDE presenting a plan to address gaps from expired federal funds.
Learn more: bit.ly/4mCDhZs

Lea más: bit.ly/4mCDhZs