Letter to Jaime A. El Koury Re: Certification of a Fiscal Plan for Puerto Rico

SUMMARY

On March 6, the Puerto Rico Task Force wrote to Jaime A. El Koury, the Board’s General Counsel, to urge that the time by which the new Governor of Puerto Rico must submit a proposed Fiscal Plan for the Board’s consideration be extended beyond March 15, 2017, so that various stakeholders and other interested parties have sufficient time to review the proposed Fiscal Plan, and to submit to the Board their views on the Fiscal Plan and its implications for the future of Puerto Rico, its residents and its investors.  The Task Force wrote, “Taking the time to develop a meaningful understanding of the views of interested parties will benefit the Board in connection with its consideration of the Fiscal Plan and the Board and the Governor in connection with any revised Fiscal Plan under Section 201(d) of the Puerto Rico Oversight, Management and Economic Stability Act (“PROMESA”).”