On January 18, 2017, Governor Ricardo A. Roselló signed into law the Enabling Act of the Fiscal Agency and Financial Advisory Authority, Act 2-2017 (in Spanish). FAFAA was created for the purpose of acting as fiscal agent, financial advisor and reporting agent of all the entities of the Government of Puerto Rico and to assist such entities in facing the grave fiscal crisis and economic emergency that Puerto Rico is currently experiencing. FAFAA is the entity in charge of the collaboration, communication and cooperation efforts between the Government of Puerto Rico and the Fiscal Oversight Board, created under the Puerto Rico Oversight, Management, and Economic Stability Act, Pub. L. 114-187 (PROMESA).