Puerto Rico

Puerto Rico Gov. Alejandro García Padilla released more pessimistic figures for the next 10 years and said they were added evidence that a negotiated debt solution was impossible.

Puerto Rico Governor-Elect Ricardo Rosselló appointed Christian Sobrino Vega as his chief economic advisor.

The Puerto Rico Oversight Board presented its first take on what needs to be done to bring the commonwealth out of its fiscal crisis.

Congress should further debate the effectiveness of Securities and Exchange Commission and Municipal Securities Rulemaking Board rules governing the failure to comply with municipal securities disclosure requirements, a congressional task force on Puerto Rico recommended.

Puerto Rico Governor-Elect Ricardo Rosselló named Luis Burdiel Agudo as the new president of the Economic Development Bank for Puerto Rico.

Puerto Rico Board Chairman José Carrión III said Governor-Elect Ricardo Rosselló will have the final say on the five-year fiscal plan for finances and debt.

Puerto Rico's employment continued contracting in November, with the household survey's total employment down 2.1% since July.

Puerto Rico Governor-Elect Ricardo Rosselló appointed financial professionals to two key positions within his government.

The Puerto Rico Electric Power Authority extended a restructuring agreement with creditors until March 31.

Puerto Rico’s November General Fund revenues came in 8.9% better than budgeted.

While Puerto Rico is at a crossroads, it must file for restructuring as soon as possible and work with the federal government to help resolve the commonwealth’s fiscal crisis, said outgoing Puerto Rico Gov. Alejandro García Padilla.

The appointee to be the head of the Puerto Rico Highways and Transportation Authority, Carlos Contreras Aponte, for the Rosselló administration, emphasizes the importance of modernization.

Puerto Rico Sen. Ángel Martinez Santiago is seeking “to extend the benefits of Obamacare up to its original date of 2019.”

Sen. Marco Rubio introduced a bill on Tuesday that he said would raise wages for workers in Puerto Rico and make hiring new employees more attractive.

Manuel Laboy Rivera, an engineer who has a background in luring stateside companies to set up shop in Puerto Rico, was tapped to oversee the Puerto Rico Department of Economic Development and Commerce.

The Financial Industry Regulatory Authority has ordered UBS to pay two Puerto Rican residents $18.4 million in damages, interest, and other fees over the residents’ investments in closed-end mutual funds concentrated in Puerto Rico bonds.

Puerto Rico Governor-Elect Ricardo Rosselló this weekend declined the governor’s offer to work on a fiscal plan for the oversight board.

While Congress and the Treasury Department have put a framework in place for Puerto Rico’s recovery, the key challenge ahead is whether they will be able to work together on health care and tax initiatives to spur economic growth in the commonwealth, said Kent Hiteshew, director of the Treasury’s Office of State and Local Finance.

Puerto Rico Governor Elect Ricardo Rosselló announced that Wanda Vázquez Garced will be the Secretary of Justice in his administration.

The Financial Industry Regulatory Authority found that Merrill Lynch failed to properly supervise customers’ investments in Puerto Rico bonds and closed-end funds.