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Shadows in PREPA's Debt

Analysis from the Puerto Rico Commission for the Comprehensive Audit of the Public Credit points to possible conflicts of interest from consultant

4 de octubre de 2016 - 9:14 AM

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This content was published more than 9 years ago.
There is also a possible "inflation" of the public corporation's income to issue debt while an investigation by the SEC moves forward. (Gustavo Rivera/GFR)
There is also a possible "inflation" of the public corporation's income to issue debt while an investigation by the SEC moves forward. (Gustavo Rivera/GFR)

For at least 10 years, the Puerto Rico Electric Power Authority (PREPA) included the electricity it wasn't charging its clients in the calculations to be able to issue debt, while using the same consulting firm for almost seven decades to carry out works on the corporation's infrastructure, conduct audits on these projects, and even participate in the marketing processes for the public corporation's bonds.

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