{"id":54361,"date":"2017-06-20T20:01:00","date_gmt":"2017-06-20T22:16:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/english-george-pataki-former-new-york-governor-and-advisor-to-the-ad-hoc-group-of-puerto-rico-general-obligation-bondholders-issues-memorandum-for-policymakers-on-puerto-rico\/"},"modified":"2017-06-20T20:02:02","modified_gmt":"2017-06-21T00:02:02","slug":"george-pataki-ex-gobernador-de-nueva-york-y-asesor-del-grupo-ad-hoc-de-tenedores-de-bonos-de-obligacion-general-de-puerto-rico-emite-un-memorando-para-encargados-de-formular-politicas-sobre-puerto-r","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/george-pataki-ex-gobernador-de-nueva-york-y-asesor-del-grupo-ad-hoc-de-tenedores-de-bonos-de-obligacion-general-de-puerto-rico-emite-un-memorando-para-encargados-de-formular-politicas-sobre-puerto-r\/","title":{"rendered":"George Pataki, Former New York Governor And Advisor To The Ad Hoc Group Of Puerto Rico General Obligation Bondholders, Issues Memorandum For Policymakers On Puerto Rico"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">June 20, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/\u00a0&#8212; Today the Ad Hoc Group of Puerto Rico General Obligation Bondholders and its advisor, former Governor of <span class=\"xn-location\">New York<\/span>, <span class=\"xn-person\">George Pataki<\/span>, released a <a target=\"_blank\" href=\"https:\/\/docs.google.com\/viewerng\/viewer?url=http:\/\/factcheckpuertorico.org\/wp-content\/uploads\/2017\/06\/Governor-Pataki-Memorandum-New.pdf&amp;hl=en\" rel=\"nofollow\">Memorandum for Policymakers on Puerto Rico<\/a>. The memorandum, along with a presentation which can be found at <a target=\"_blank\" href=\"http:\/\/www.factcheckpuertorico.org\/\" rel=\"nofollow\">www.FactCheckPuertoRico.org<\/a>, includes analysis of financial material that was recently made public by the Center for Investigative Journalism. <\/p>\n<p>Key excerpts from the memo: <\/p>\n<ul type=\"disc\">\n<li><b><i><u>The (Commonwealth&#8217;s FY 2018) budget includes year over year public expenditure increases of <span class=\"xn-money\">$575 million<\/span>; <\/u><\/i><\/b><i>a fact which the Commonwealth attempts to obscure by reclassifying certain expenses as &#8220;below the line,&#8221; including two large slush funds (the <span class=\"xn-money\">$545 million<\/span> &#8220;reconciliation adjustment,&#8221; and the <span class=\"xn-money\">$305 million<\/span> &#8220;budgetary reserve&#8221;).\n<p><\/i>\n<\/li>\n<li><i>The Board insists on projecting a decrease in the Commonwealth&#8217;s revenues and a contraction in the island&#8217;s GNP, in spite of contradictory information. <b><u><span class=\"xn-location\">Puerto Rico&#8217;s<\/span> revenues are up, powered by robust consumer consumption.\u00a0 Both tax collections and nominal GNP are at all-time highs<\/u><\/b>.\n<p><\/i>\n<\/li>\n<li><i>The Oversight Board uses these misleading projections to argue that the island has the capacity for only <span class=\"xn-money\">$400 million<\/span> in debt service in the coming year. In fact, before pension payments, <b><u>the Commonwealth is running a primary surplus of <span class=\"xn-money\">$3 billion<\/span> for FY18.<\/u><\/b>\u00a0 It also has <span class=\"xn-money\">$1 billion<\/span> less in accounts payable \u2013 spread over multiple years \u2013 than had previously been forecast by the Fiscal Plan.\u00a0 <\/i><\/li>\n<\/ul>\n<p>The memorandum for policymakers along with a more detailed presentation entitled &#8220;<span class=\"xn-location\">Puerto Rico<\/span>: Separating Fact from Fiction&#8221; can both be found online at <a target=\"_blank\" href=\"http:\/\/www.factcheckpuertorico.org\/\" rel=\"nofollow\">www.FactCheckPuertoRico.org<\/a>.<\/p>\n<p\/>\n<p>For media inquiries, please contact\u00a0Miriam Warren\u00a0at\u00a0<a target=\"_blank\" href=\"mailto:mwarren@dcigroup.com\" rel=\"nofollow\">mwarren@dcigroup.com<\/a>.<\/p>\n<p\/>\n<p>SOURCE  Ad Hoc Group of Puerto Rico General Obligation Bondholders<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">June 20, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/\u00a0&#8212; Today the Ad Hoc Group of Puerto Rico General Obligation Bondholders and its advisor, former Governor of <span class=\"xn-location\">New York<\/span>, <span class=\"xn-person\">George Pataki<\/span>, released a <a target=\"_blank\" href=\"https:\/\/docs.google.com\/viewerng\/viewer?url=http:\/\/factcheckpuertorico.org\/wp-content\/uploads\/2017\/06\/Governor-Pataki-Memorandum-New.pdf&amp;hl=en\" rel=\"nofollow\">Memorandum for Policymakers on Puerto Rico<\/a>. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-54361","post","type-post","status-publish","format-standard","hentry","category-gobierno-y-politica"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/54361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=54361"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/54361\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=54361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=54361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=54361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}