Federal Oversight Board

The Federal Oversight Board is an independent body created to ensure that Puerto Rico effectively manages its finances and government operations. This board was established under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) in 2016, following Puerto Rico's financial crisis. Its main responsibilities include approving budgets and financial plans, providing guidance to Puerto Rican authorities, and helping the island reorganize its debt. The board aims to promote fiscal responsibility and economic stability while addressing the unique challenges faced by Puerto Rico.