An informal survey by Puerto Rico’s Chamber of Food Marketing, Industry and Distribution of 15 of its members found that there are roughly 1,400 containers of their provisions sitting in U.S. ports, waiting to be shipped to Puerto Rico, according to a commentary in today’s Wall Street Journal.
Puerto Rico in Distress
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A U.S. congressional committee yesterday set a Nov. 2 deadline for the Puerto Rico Electric Power Authority (PREPA) to provide information related to its $300 million contract with a small Montana firm to repair damage to the utility’s infrastructure caused by Hurricane Maria, Reuters reported.
U.S. District Judge Laura Taylor Swain granted a motion yesterday that forbids Puerto Rico from using disaster relief money to repay creditors who are owed roughly $72 billion in debt repayments, Reuters reported.
Puerto Rico and Whitefish Energy Holdings yesterday defended their $300 million contract for the small Montana company to repair the U.S. territory’s hurricane-ravaged power grid after the deal was criticized by U.S. lawmakers, Reuters reported. The back-and-forth comes as Puerto Rico struggles to restore power to more than 80 percent of the island a month after Hurricane Maria made landfall.
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The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.