Business

Trump to appoint new member to Puerto Rico oversight board

Posted October 07, 2020 7:00 am

The Associated Press

SAN JUAN, Puerto Rico (AP) - The White House said Wednesday that U.S. President Donald Trump plans to appoint a man who once advised creditors in financial disputes involving Puerto Rico and Argentina to a federal control board overseeing the U.S. territory's finances.

Justin Peterson is expected to fill one of two positions left empty after longtime board members recently resigned.

Peterson is a managing partner at DCI, a public affairs firm based in Washington, D.C. He previously worked on the campaigns of former Sen. Elizabeth Dole and former President George W. Bush.

The U.S. Congress created the board four years ago after Puerto Rico announced its more than $70 billion public debt load was unpayable and sought to restructure a portion of it.

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