Public Debt Report of the Commonwealth for FY 2007 and first six months of FY 2008 April 1, 2008
Information on Auction Rate Securities may be found at www.dacbond.comMarch 28, 2008
S&P recognizes expenditure controls in maintaining investment grade rating See S&P Report March 18, 2008
Governor's FY2009 Budget Proposal
Update on FY2008 Revenues & Expenditures March 14, 2008 GDB temporarily postpones Pension Bond issue due to turbulent international market conditons February 22, 2008 GDB details New Excise Tax Proposal to Stimulate Economy and Guarantee Bondholder Protection
February 14, 2008 Replay Audio of Conference Call hosted by GDB President Jorge Irizarry on February 8th to discuss the Governor’s proposal to reduce the 7% sales tax by eliminating the 4.5% that goes to the central government, and implementing an improved excise tax system in lieu of the eliminated sales tax.
Minia González-Álvarez appointed Acting Administrator of Retirement System February 1, 2008 Puerto Rico sells over $1.4 billion in Pension Obligation Bonds in local market; double original expectationsJanuary 24, 2008
José M. Berrocal Institut for Economics and Finance announces orientatios related to 2008 Summer InternshipJanuary 23, 2008 New Appointments at GDB January 3, 2008 Fiscal Update: A Midyear Review December 18, 2007 S&P upgrades GDB's credit rating December 13, 2007 PBA places $900 million in bonds after improvement of Commonwealth's credit outlook December 5, 2007 Governor announces appointments at the GDB December 4, 2007 Chief of Staff presents progress report on implementation
May 9, 2008
November 12, 2007 Commonwealth places over $1 billion in TRANs with the highest ratings October 17, 2007 Commonwealth successfully refinances $1 billion in GO's October 3, 2007
Irizarry named Acting President of GDB; Salazar steps down but remains as Board Chairman August 29, 2007
Treasury Department meet revenue goal for FY 2007; SUT exceeds expectations August 3, 2007
COFINA's Bond Sale in Puerto Rico Local Market reaches $1.3 billion July 18, 2007
Historical Puerto Rico $2.6 billion Bond Issue Placed Successfully by COFINA in the U.S. Municipal Bond MarketJuly 11, 2007
Governor signs law providing mechanisms to pay off extraconstitutional debt
July 6, 2007
Opinion of the Puerto Rico Secretary of Justice regarding the bond issue proposed by the Puerto Rico Sales Tax Financiang Corporation (COFINA)
Secretary of the Treasury informs revenues to the General Fund for May July 2, 2007
Governor signs $9,227 million General budget into law
June 30, 2007 Commonwealth to Sell Historic Bond Issue to Repay Appropriation Debt; transaction receives highest rating in 3 decades - June 27, 2007
$500 million General Obligation Bonds. issue approved and scheduled for mid-August -
June 25, 2007
The Government Development Bank for Puerto Rico (GDB) is a unique public corporation of the Commonwealth of Puerto Rico charged with safeguarding its fiscal stability and promoting Puerto Rico’s social and economic development. GDB acts as financial advisor and fiscal agent of the Commonwealth, its public corporations and municipalities in connection with all short-term borrowing and bond issues. Together with its subsidiaries and affiliates, GDB provide financing mechanisms for public entities to fund infrastructure development, public works, and public services. It also facilitates financing for private enterprises to advance the island’s economy. In addition, GDB offers products and services specially designed to satisfy the banking needs of government instrumentalities. GDB was created by Act 17 of September 23, 1948, as amended, and succeeds the Development Bank of Puerto Rico, which was created on May 13, 1942.
Secretary of the Treasury clarifies information divulged by the Center for the New Economy May 8, 2007
Public Debt Report presented by Alfredo Salazar before the Budget and Appropriations Commission May 3, 2007
Secretary of the Treasury informs preliminary revenues forMarch April 30, 2007
Governor held a press conference in which he issued a presentation indicating that the Central Government will end Fiscal 2007 with a $96 million deficit, which it expects to handle with internal adjustments. The presentation translated by GDB is attached. April 18, 2007
PREPA places $1.945 billion in bond sale; generating $645 million in new money. April 18, 2007 Moody's reaffirms PREPA rating with improved outlook; Fitch assigns it an A- rating April 2, 2007
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Economic Development and Government Transformation Plan for Puerto Rico October 2006
