Puerto Rico Macro Fiscal Policy Program
In September 2016, the Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA) awarded DevTech the Puerto Rico Macro-Fiscal project. The DevTech Team is working on a number of task orders to improve the transparency and accountability of the Commonwealth’s debt restructuring activities. The team is also developing economic growth projections for the Oversight Board based on the fiscal plan and the budget. DevTech has developed tools such as the macroeconomic indicators tables that demonstrate the Commonwealth’s fiscal situation across multiple levels of government, financial reporting templates, and assessed the creditworthiness of the Puerto Rico Power Authority (PREPA) and the Puerto Rico Aqueduct and Sewer Authority (PRASA).
Puerto Rico is currently facing one of the worst financial crisis in its history with more than $123 billion in debt and pension obligations. DevTech has helped to ease the crisis by contributing to the development of the fiscal plan and assessment of measures the Commonwealth may potentially pursue to alleviate the crisis.