Annoyed, director of Puerto Rico’s fiscal board resigns

Peterson, who was appointed by President Donald J. Trump in 2020 to the body imposed by Washington in the face of the financial bankruptcy of this Caribbean island, is furious.

He claimed that the expected debt adjustment plan PREPA “wiped out” the bondholders.

“I’ve decided to resign because I don’t want to be part of an unfair, coercive and discriminatory deal, (since) the board basically wants to annihilate bondholders while keeping pensions intact,” Peterson said.

He proved in a message on his social network Twitter (now X) that no changes have been made to the pensions of PREPA workers, many of whose jobs have been privatized by the Puerto Rican government by decision of the United States.

“I am grateful for the opportunity to serve and am proud of what has been accomplished during my tenure to bring Puerto Rico out of bankruptcy,” said Peterson, while thanking Trump for the opportunity.

The term of the director of the board of directors, established under Promesa legislation, expires next October.

Federal Judge Laura Taylor Swain, who is hearing Puerto Rico’s bankruptcy, on Friday delayed delivery of the Electric Power Authority’s debt modification plan.

ode/nrm

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