Commonwealth of Puerto Rico

The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.

Sixteen investment funds are making an argument on Employees Retirement System bonds that could be widened to other Puerto Rico bonds.

The board aims to improve transportation resources on the island.

Bondholders complain about lack of resolution and payment, and hitting 'deal exhaustion,' but some stakeholders are hopeful for a resolution this year.

The Economic Activity Index was down 0.4% from October.

Ambac says that PROMESA is against the Constitution's call for uniform bankruptcy codes.

Gov. Pedro Pierluisi says Francisco Rodríguez Dosal is experienced in the construction and infrastructure industry.

Three of seven board members will be from the original group.

Some economists say the changes, such as a rise in minimum wage, would be a negative for the local economy.

The aid is in response to Hurricanes Irma and Maria, which hit the island more than three years ago.

Bankruptcy judge Swain barred the government from implementing and enforcing the revenue and spending laws the Oversight Board had challenged.

With the November jobs report showing a decline in employment, and the coronavirus raging, economists debate the state of the commonwealth's economy heading into the new year.

Bondholders say Puerto Rico is in a good position to pay the amounts listed in the February 2020 proposed Plan of Adjustment.

The board wants to increase tax compliance, spend more on healthcare capital projects, and advance the release of CAFRs, among other things.

He has a background working in the island's pharmaceutical industry and for the island's government working to attract and retain private sector firms.

Juan Carlos Blanco has a background in law, finance, and government service.

The president named former Utah and Michigan budget director John Nixon and New York educator Betty Rosa. Ana Matosantos may be gone permanently from the board.

Yield-starved investors will help the deal get done, despite credit risks and the island's bankruptcy overhang.

The governor-elect also plans to appoint Manuel Cidre as secretary of economic development and commerce.

The Supreme Court decision in the Aurelius case that the Oversight Board was a local entity affected the U.S. Court of Federal Claims' decision.