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prima:The stage is set for the Oversight Board’s exit in 2028

The multi-million dollar relief that Puerto Rico obtained in the bankruptcy process will not be enough to move forward, says Secretary of State Omar Marrero, who detailed the financial tasks that remain to be done

December 1, 2024 - 6:01 PM

The Secretary of State and Executive Director of Aafaf, Omar Marrero, emphasized that in the bankruptcy process, Puerto Rico set precedents in the U.S. municipal market by demonstrating that pensions do not have to be cut in order to reach agreements that also favor bondholders. (Suministrada)

If Governor-elect Jenniffer González follows the recipe left by her predecessor, also a statehooder and PNP member, Pedro Pierluisi Urrutia, the Financial Oversight and Management Board (FOMB) should end its functions by fiscal year 2028, according to Secretary of State Omar J. Marrero.

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