The Puerto Rico Fiscal Agency and Financial Advisory Authority (𝗔𝗔𝗙𝗔𝗙, its Spanish acronym) is an independent public corporation and governmental instrumentality with separate legal existence, fiscal and administrative autonomy. Its main responsibility is to act as an agent, financial advisor and reporting entity of the Government of Puerto Rico, its agencies, instrumentalities, subdivisions, public corporations and municipalities. 𝗔𝗔𝗙𝗔𝗙 is also an important link that facilitates collaboration and communication between the Government of Puerto Rico and the federal Fiscal Oversight Board as mandated by the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). Among 𝗔𝗔𝗙𝗔𝗙's core objectives: ➦ Renegotiate, restructure and/or reach an agreement with creditors on all or part of the public debt or any other debt issued by any government entity. ➦ Coordinate the sustainable use of available resources to present a strategic and global vision for the government of Puerto Rico’s capital needs. ➦ Restructure and transform the government of Puerto Rico to achieve balanced budgets and continue creating a new government that offers Puerto Ricans better services. ➦ Ensure compliance with the budget and fiscal plan approved by the Fiscal Oversight Board, while also addressing the island’s budgetary and fiscal predicament. ➦ Spearhead the development and implementation of Puerto Rico’s fiscal policy. ➦ Develop and monitor reports related to the Treasury Department’s account balance; the Electric Power Authority’s liquidity as well as that of all public corporations; the government’s various bank accounts; government payroll, PayGo and Individual Contribution Debt by Entity; and others.
