Trump appointed former Pridco director Antonio Medina to the Fiscal Oversight Board

Washington dc – President Donald Trump announces tonight his intention to design Antonio Medina, a former director of the Industrial Development Company (Pridco), as a member of the Board of Fiscal Supervision (JSF) that controls Puerto Rico’s public finances .

Medina was one of the candidates proposed by the Speaker of the House of Representatives, Democrat Nancy Pelosi.

With the appointment of Medina would be only one vacancy in the tax entity, which was also to recommend Pelosi, and a member with an appointment date, the president of the tax entity, David Skeel.

“The intention to appoint Medina to the Supervisory Board — in addition to the recent appointments of Justin Peterson, John Nixon and Betty Rosa, as well as the reappointment of Andrew Biggs — represents a step forward in the Supervisory Board’s mission. to help Puerto Rico achieve fiscal responsibility and restructure its debt, ”Skeel said tonight.

Medina fills the vacancy left with his resignation in early October by José Carrión III, who was recommended in 2016 by then-speaking Paul Ryan. Like Carrión III, Medina resides in Puerto Rico.

Under the Promise Act, to the proposing JSF candidates, the head of the federal lower house has to form one of its two lists with people who reside or have their main business on the Island.

In addition to another Pelosi candidate, Trump has also not decided to re-nominate Skeel, who was recommended to continue in office by Republican Senate Majority Leader Mitch McConnell. Although Trump redesigned Andrew Biggs – McConnell’s other candidate – he has not given a vote of confidence to Skeel, a professor of corporate law.

Medina – who now owns a consulting firm, Convergent Strategies – was Pridco’s director for most of the four-year term of then-governor Alejandro Garcia Padilla. His clients include Palmas Del Mar Properties, Inc. and law firm McConnell Valdés, LLC, among others.

He was also Chief Financial Officer of Merck Brazil and Chief Financial Officer of Merck Central America and the Caribbean.

With the new designation, the six members of the JSF are Medina, Skeel, Biggs, Peterson, Nixon and Rosa. Puerto Rican educator Rosa – recommended by Senate minority leader Charles Schumer – and Medina are the only members nominated by Democratic congressional leaders.

Peterson – a managing partner of the DCI company that until the summer of 2018 represented creditors in the Puerto Rican government – was Trump’s chosen one, while Nixon was promoted by the leader of the chamber minority, the Republican Kevin McCarthy.

The appointment of Rosa, interim commissioner of education in the state of New York and president of the state University of New York, supposes the exit of Ana Matosantos of the JSF.

Nixon will be the budget director for the Utah and Michigan state governments. He filled the vacancy caused by the resignation of José Ramón González, president of the Federal Home Loan Bank of New York and who was president of the Government Development Bank during one of the rulers of Rafael Hernández Colón.