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The government-owned corporations of Puerto Rico —or public corporations (Spanish: corporaciones públicas)— are a set of corporate entities owned entirely or in large part by the executive branch of the government of Puerto Rico or by its municipalities.
The Department of State of Puerto Rico (Spanish: Departamento de Estado de Puerto Rico) was created in July 1952 and is responsible of promoting the cultural, political, and economical relations between Puerto Rico, other jurisdictions of the United States and foreign countries. [1]
The Puerto Rico State Insurance Fund Corporation —Spanish: Corporación del Fondo del Seguro del Estado (CFSE)—is a government-owned corporation of Puerto Rico that provides workers' compensation in Puerto Rico.
Location of Puerto Rico. Puerto Rico is an unincorporated territory of the United States located in the northeast Caribbean Sea. It is an archipelago that includes the main island of Puerto Rico and a number of smaller ones such as Mona, Culebra, and Vieques. The capital and most populous city is San Juan.
The Puerto Rico Department of Economic Development and Commerce (Spanish: Departamento de Desarrollo Económico y Comercio de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the economic development in the U.S. Commonwealth of Puerto Rico and all its commerce related matters.
As such, the secretary of state is first in line of succession to the governorship of Puerto Rico. Today, the post is similar to that of a foreign minister. The secretary is the officer in charge of Puerto Rico's foreign relations, albeit under the consent of Congress or the U.S. Department of State due to Puerto Rico's political status.
The Puerto Rico Public Finance Corporation (PFC) —Spanish: Corporación para el Financiamiento Público de Puerto Rico (CFP)— is the government-owned corporation that issues bonds to finance the different agencies of the executive branch of the government of Puerto Rico. [1]
The Municipal Finance Corporation —Spanish: Corporación de Financiamiento Municipal (COFIM)— is a government-owned corporation of Puerto Rico that issues government bonds and uses other financing mechanisms to pay or refinance, directly or indirectly, in whole or in part, the debts of the municipalities of Puerto Rico payable or backed by the Puerto Rican municipal sales and use tax. [1]