Puerto Rico's gov says no layoffs or pension cuts in major rebuke of federal control board demands
{{#rendered}} {{/rendered}}People watch television powered with the help of a generator, as Puerto Rico Governor Ricardo Rossello addresses the nation in a televised speech, in Toa Baja, Puerto Rico February 5, 2018. (REUTERS/Alvin Baez)
Puerto Rico's governor is defying the federal control board overseeing the island's troubled finances.
Ricardo Rossello says he will submit a fiscal plan to the board on Thursday that will not contain any layoffs, reductions in pensions or a labor reform.
The announcement late Sunday defies the board's demands that the U.S. territory implement a labor reform and a 10 percent cut to a pension system facing nearly $50 billion in liabilities.
{{#rendered}} {{/rendered}}A board spokesman did not immediately respond to a request for comment.
Public Affairs Secretary Ramón Rosario told NotiUno radio station on Monday that the board cannot impose public policy in Puerto Rico and asked members to reach a consensus with the island's government.