We were pleased to welcome back Carlos Pesquera. He joined us earlier as a candidate for Resident Commissioner. He was invited to share his unique perspective of where Puerto Rico is today.....and where we are headed. Carlos holds a BS in Civil Engineering from UPR Mayaguez and a Masters and PhD in Structural Engineering from Cornell University.
PROMESA, the federal government's plan to make certain that Puerto Rico can go back into the financial market, was the topic of his talk. He gave a detailed review of the concept of the Board of seven members, its bylaws, and offices in D.C. and New York as well as on our island. Puerto Rico has to come up with a five year plan showing income an expenses. The Board has oversight to see that the budget is realized and the debt restructured. The topic raised a great many questions and provided for a lively Q & A period.
Thanks to Speaker Chairman, Sherman Wildman, for this timely program.
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