Legislators Ingrid Colberg Rodríguez and Manuel Calderón Cerame of the Partido Popular Democrático (PPD) criticized San Juan Mayor Miguel Romero for issuing $323.7 million in bonds, which they claim will burden future generations of San Juan residents with debt. The bonds, approved by the Junta de Supervisión Fiscal (JSF), will be used to refinance $209 million in debt from 2007 and later years.
Colberg Rodríguez argued that the move is not a genuine savings, but rather an accounting illusion, as 60% of the debt is being deferred until 2033, when the next generation will have to pay $123.9 million. Romero defended the bond issuance, stating that it refinances existing debt under better financial conditions, generating substantial savings of $84 million, which will be available for the city’s priorities instead of paying interest and other financial costs.