Puerto Rico: A Crisis of Debt
In mid-2015 Puerto Rico Gov. Alejandro García Padilla called the island's then-$72 billion debt load unpayable. Since then Puerto Rico and its public authorities have defaulted on many of its bonds and the United States government has passed the Puerto Rico Oversight, Management and Economic Stability Act to deal with the island’s problems. Stay up to date with all the latest Puerto Rico developments by browsing this page and click here to use our interactive Puerto Rico Drilldown tool.

Why Puerto Rico's Fiscal Plan Debt Allotment May Be Negotiated

Puerto Rico Board Approves Plan Paying 26% of Debt Due

More Than One Cause for Puerto Rico's Debt Problem

La Fortaleza, where Puerto Rico Gov. Ricardo Rosselló lives and works.
The Puerto Rico Oversight Board has named a veteran of the Ukraine’s 2014 to 2016 restructuring to be its executive director. more »
Puerto Rico’s general obligation bondholders called for negotiations on the island’s debt after a judge halted litigation between them and holders of the island’s sales tax revenue bonds. more »
Subcommittee members heard testimony about the chances for and potential fallout from attempts to renegotiate the PREPA restructuring support agreement as well as what stakeholders have been doing to help the financially troubled commonwealth. more »
Puerto Rico bond recoveries may be better than projected by the Oversight Board in the fiscal plan it approved this month, according to a Moody’s analyst. more »
Puerto Rico Electric Power Authority bondholders are resisting the island government's effort to overhaul the utility's existing deal to restructure its business and more than $8 billion of bond debt. more »
The House subcommittee hearing on the soon-to-expire PREPA restructuring support agreement aims to gather information about the status of ongoing negotiations between Puerto Rico and PREPA creditors. more »
Puerto Rico Resident Commissioner Jenniffer González Colón said that an extension of the Puerto Rico Oversight, Management and Economic Stability Act litigation stay was unlikely. more »
The SEC wants a Puerto Rico federal court to agree that Jose Ramirez, a former UBS Puerto Rico employee, engaged in a scheme to defraud investors in closed-end funds with large investments in Puerto Rico bonds. more »
The Puerto Rico Oversight Board’s plan to have enough money to pay 26% of debt due in the next nine years is a “first salvo” whose debt payment terms can be negotiated, experts say. more »
The Puerto Rico Oversight Board approved a 10-year fiscal plan that will allow the payment of 22.6% to 23.7% of debt due. more »
The House Natural Resources Committee, which played a key role in creating PROMESA, will hold a hearing in one of its subcommittees on March 22 to discuss PREPA’s restructuring support agreement. more »
The House Financial Services Committee and Senate Banking Committee both approved companion bills that would end a legal loophole that lawmakers allege allowed broker-dealers to defraud Puerto Rico investors have received committee approval and are now pending before the House and Senate. more »
The Puerto Rico Oversight Board rejected Ricardo Rosselló’s 10-year fiscal plan on Thursday and gave him until 9 a.m. Saturday to present a revision. more »

Pennsylvania Auditor General Eugene DePasquale tells how marijuana taxation and regulation could help the commonwealth shore up its budget. He also discusses audits by his office, unfunded pension liability and the effect of a Donald Trump presidency. Hosted by Paul Burton.

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