Caribbean

Fernando Osorio Caño was named interim executive director after Mary Carmen Zapata resigned.

The Trump administration court filing will give PREPA bondholders an incentive to hold out for a better offer, according to one observer.

The island's budget director said the government should turn to money connected with a Jeffrey Epstein settlement to have enough money to finish the remaining six weeks of the fiscal year.

Puerto Rico's electric authority, mired in nine-year-old bankruptcy proceedings, is running low on cash and its efforts to reduce outages aren't succeeding.

The larger tax-exempt portion of the bonds reportedly were 18 times oversubscribed.

Analysts say the drought, which is expected to continue for at least several months, could have economic impacts.

PREPA bondholders asked the court to allow actions against Puerto Rico's central government, which they say undermined the authority's ability to pay its bonds.

The city brings $122.2 million of GO bonds to market next week, believing its investment-grade ratings outweigh the defaults of the Puerto Rico government.

The U.S. Department of Housing and Urban Development is suspending between $1 billion and $2 billion of aid approved.

The Puerto Rico Oversight Board want the U.S. Appeals Court for the First Circuit to uphold a lower court's rejection of the bondholders greater than $3.7 billion claim.