AAFAF - Autoridad de Asesoría Financiera y Agencia Fiscal de Puerto Rico

New Rules for Issuing Gov’t Debt

Gov. Wanda Vázquez sent a bill to the Legislative Assembly to set limits on government debt issues and restrict the use that will be given to the money borrowed.

 

The bill defines the collections or transactions that will be considered when calculating the margin established by the Constitution to issue debt, and states that the government can only borrow to invest in capital improvements.

 

The proposal will also establish that the government may refinance its current loans only if it achieves savings in the payment of interest, and that no loan or bond may have a life of more than 30 years.

 

Source: The Weekly Journal

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The AAFAF Investor Relations site provides certain general information about the government of the Commonwealth of Puerto Rico (the “Government”) and its political subdivisions or instrumentalities, and their outstanding bonds, notes and other obligations.

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Viewers acknowledge that: (1) AAFAF is not through this site or the information shown herein offering any bonds, notes or other obligations or securities, or soliciting an offer to buy any such securities; (2) this site and the information herein shall not be construed as any description of AAFAF, the Government or its public corporations, subdivisions and instrumentalities in conjunction with any offering of bonds, notes or other obligations or securities; (3) the information on this site is subject to change without notice, and no one shall assume from the availability of this site and the information herein that the affairs of AAFAF and/or the Government have not changed since the date of this information; (4) no representation is made as to the propriety or legality of any secondary market trading of the bonds, notes or other obligations of the Government by anyone in any jurisdiction, and (5) the information on this site speaks as of its date, and AAFAF does not hereby obligate itself in any manner to periodically or otherwise update this information or to maintain the availability of this information.

Choice of Law: Construction of the disclaimers above and resolution of disputes regarding such disclaimers are governed by the laws of the Commonwealth of Puerto Rico. The laws of the Commonwealth of Puerto Rico shall apply to all uses of this site and the information contained in this site.

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