Commonwealth of Puerto Rico

Success can't be achieved unless the local government more actively pursues reform, sources say.

The board anticipates a $22 billion cumulative deficit through fiscal 2049.

The Unsecured Creditors Committee say that two factors make it clear the current restructuring deal will never be approved.

The commonwealth has been able to access less than 30% of the aid the federal government promised after the devastating 2017 hurricane.

The Puerto Rico government attributes the decline to the COVID-19 virus and the governor's resulting lockdown order.

The pandemic will damage the territory's ability to make debt payments it had previously expected to fund through fiscal 2025, according to a new fiscal plan.

The court filings could directly impact about $6 billion of bonds and $15 billion more indirectly.

Some economic sectors should open sooner than others, it said.

Swain says the challenge would be considered in two stages.

Analyst says the shortfall is another problem for the island's economy.

The ruling on the funding of municipal pensions and healthcare will pose a challenge to municipal government finances.

The appellate ruling that residents should be eligible for the Social Security Administration program has the potential to help Puerto Rico's economy.

The judge said that certain attorney-client privilege confidential information must be removed from complaint.

The Oversight Board has asked for delays concerning non-central government bonds.

The Unsecured Creditors Committee responded to the Oversight Board chairman's statements that the board may change central government bond restructuring terms.

The funds will be in addition to the $160 million from the Emergency Reserve Fund that the board released March 12.

Puerto Rico Gov. Wanda Vázquez Garced issued an order for all residents except a few classes of essential employees to remain at home.

Appointee Marrero has extensive backgrounds in government service, law, and finance.

The plan still faces formidable opposition from multiple parties.

A former Puerto Rico bankruptcy attorney says the firms have conspired to break the law so as to advance their financial interests over those of their clients.