(San Juan, PR – December 7, 2018) – The Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”) created by Congress under the bipartisan Puerto Rico Oversight, Management and Economic Stability Act (“PROMESA”), today issued the following statement:

“There has been a great deal of public discussion with regards to the budget reapportionment process, notwithstanding our previous communications with the Government on this topic. For purposes of clarification, we issued a letter yesterday restating the general policies that we apply in our review, as well as the status of all outstanding reapportionment requests. We hope this will be helpful in accelerating the review process. Moreover, to increase transparency, next week we will be publishing all reapportionment requests and our correspondence on our website, similar to our efforts on contract review. The Oversight Board will not, however, publish any reapportionment requests that the Oversight Board believes should remain confidential, e.g., those that would imperil public safety.”