Fiscal Board Imposes New Rules on Puerto Rico Amid Crisis

SAN JUAN, Puerto Rico (AP) —

A new federal control board overseeing Puerto Rico’s finances amid a dire economic crisis has voted to expand its powers and require indebted public agencies to be more accountable.

The board said no government agency can proceed with any non-routine transaction without permission, such as issuing debt.

It also demanded that six public agencies, including the Government Development Bank, the island’s largest public university and its utility companies, submit their own fiscal plans.

The measures angered some protesters at the meeting held in New York on Friday, who interrupted with yells of “Shame on you!”

Gov. Alejandro Garcia Padilla also presented a 10-year fiscal plan to the board and urged it not to take more austerity measures.

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