March 24, 2018 / 12:30 AM / a year ago

Puerto Rico oversight board postpones certification of island's fiscal plans

March 23 (Reuters) - Puerto Rico’s federally appointed Financial Oversight and Management Board said on Friday that it would postpone certification of the island’s fiscal plan and that it would announce a new certification date soon.

The board said it would also reschedule the plans to transform the island’s deficit for its power and water authorities, Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewers Authority.

Puerto Rico Governor Ricardo Rossello released a revised fiscal plan last month that would use $18 billion of additional money from the U.S. federal budget to aide the island’s deficit. (Reporting by Nivedita Balu in Bengaluru)

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