Financial Oversight and Management Board

The Financial Oversight and Management Board (FOMB) is an entity established by the U.S. Congress in 2016 to oversee financial matters in Puerto Rico. It was created to help Puerto Rico manage its significant debt crisis and ensure responsible fiscal practices. The FOMB works with the Puerto Rican government to develop budget plans and implement reforms, aiming for fiscal stability and economic recovery. Its goal is to restore financial health to the territory, protect its public services, and enable it to meet its debt obligations while fostering long-term economic growth.