AGP Executive Report
Last update: 6 hours agoPuerto Rico Recovery Watch: A new GAO audit says the island is still waiting on billions promised after Hurricane Maria, with only about $2.7B of FEMA’s $11.1B grid-modernization earmark reaching Puerto Rico and major delays tied to project reviews, staffing turnover, and PREPA’s $10B debt restructuring. Water Crisis: Puerto Rico is dealing with a prolonged water supply emergency after a Superaqueduct leak triggered additional outages, forcing tankers and temporary distribution while businesses and institutions report recurring disruptions. Power Debt & Oversight: The U.S. Supreme Court’s recent rulings could reshape Puerto Rico’s Oversight Board and influence the path of PREPA’s bankruptcy and a proposed $3B settlement. Local Finance Deal: Banco Popular and other local banks completed a $600M Metropistas refinancing, with proceeds routed through the Puerto Rico Conservation Trust for education, conservation, reforestation, and biodiversity programs. Tax Integrity: A Puerto Rico Treasury employee pleaded guilty to a bribery conspiracy tied to about $5M in lost tax revenue, involving manipulation of taxpayer information in PRITAS/GenTax-SURI. Business & Tourism: Sports betting is expected to surge for the 2026 World Cup in Puerto Rico, with casinos reporting packed sportsbooks and growing participation from locals and tourists. Community Recognition: Puerto Rican-rooted entrepreneur Charlyn Nater is set to receive the Joe Manns Black Wall Street Award for backing small businesses and neighborhood revitalization.
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