U.S. Treasury spokesman: “There is no deep federal assistance right around the c... - 11/7/2013 - Caribnews | “We can be helpful in making sure that every federal dollar that Puerto Rico is entitled to is being spent effectively and efficiently,” she said.

US Treasury: Advice, not aid, for PR

By CB Online Staff

cbnews@caribbeanbusinesspr.com; cbprdigital@gmail.com

Issued : Thursday, November 7, 2013 02:43 PM

The U.S. Treasury Department made clear Wednesday that it is not considering a bailout for Puerto Rico as the island works to shore up its finances amid an ongoing economic recession dating back to 2006.

As reported by CARIBBEAN BUSINESS online, the U.S. government’s focus in aiding Puerto Rico navigate its tough fiscal straits is working with the island government to maximize its use of available federal funding.

“There is no deep federal assistance right around the corner,” U.S. Treasury official Mary Miller said during the Bloomberg Link State & Municipal Finance Conference in New York.

Miller, the U.S. Treasury Department’s undersecretary for domestic finance, said the federal government would provide “any assistance we can on fiscal management.”

“We can be helpful in making sure that every federal dollar that Puerto Rico is entitled to is being spent effectively and efficiently,” she said.

• U.S. Treasury spokesman: “There is no deep federal assistance right around the c... - 11/7/2013 - Caribnews