Financial Board FOMB

FOMB members (Brandon Cruz González)

The Financial and Oversight Management Board (FOMB) for Puerto Rico has requested an accounting of all contracts signed by former Gov. Ricardo Rosselló during his last two weeks in office.

In a letter addressed to Chief Financial Officer Omar Marrero, the FOMB said that "according to press reports, the Rosselló Administration executed or approved more than 200 contracts with a value of approximately $80 million during former Gov. Rosselló's last two weeks in office.

"As you know, the Oversight Board established a contract review policy pursuant to Promesa to require Oversight Board approval of certain contracts to assure that they promote market competition and are not inconsistent with the approved fiscal plan," said the letter.

The contracts in question should be submitted no later than August 16, 2019.

The letter comes after newly installed Gov. Wanda Vázquez suspended a $450,000 contract to rebuild and strengthen the island's power grid after Hurricane Maria.

The Puerto Rico Electric Power Authority (Prepa) had been expected to sign the contract with Stantec, a consulting firm based in Canada.

“We are evaluating all government contracts, no exceptions,” said Vázquez, who last Wednesday became Puerto Rico’s third governor in a week following massive protests over alleged government corruption and mismanagement. “There is no room in this administration for unreasonable expenses,” she said.

Prepa, which is bankrupt, has more than $9 billion in debt.

Managing Editor for The Weekly Journal. She has 14 years of experience as a print and radio reporter, news editor and TV anchor. She holds a bachelor’s degree in Communications and Journalism from the University of Puerto Rico, Río Piedras Campus.

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