Puerto Rico Electric Power Authority

Judge Swain on Wednesday will consider the Oversight Board's proposal to commence litigation on creditor claims.

Judge Swain grants the mediation team's request for an extension until Sept. 16 and possibly longer.

But it still remains slightly higher than it was a year ago.

The board says the law will reduce economic activity and government revenues.

The team now wants the option to continue discussions through September.

Revenues were 14.4% higher than those in the previous fiscal year.

The duration of outages has continued to increase, causing backlash for elected officials.

While a smaller population could be economically negative, the revised count lowers the median age, which would be positive.

The mediation team cites progress, but needs more time to reach an agreement.

The indictment of Wanda Vázquez is the latest in a series of corruption charges against Puerto Rico politicians over the last 18 months.

The mediation team can operate until Sept. 9, if it chooses to do so.

The Unsecured Creditors Committee, a PREPA union and a PREPA retiree group disagree. They want litigation to start.

They want at least 14 days more for the debt restructuring mediation process.

Revenues for the first 11 months of the fiscal year outpaced the Oversight Board's 12-month expectations.

Several U.S.-based Puerto Rican diaspora groups call for full debate of the proposed status plebiscite and possible amendments to it.

The governor refused board's order to suspend implementation and enforcement of the new law that the board says will hurt the island's labor market and revenues.

PROMESA and the oversight board helped, but there is no economic plan going forward and recent government actions will create problems for the island's future, analysts said.

The current territorial status would not be an option in a Puerto Rico voter plebiscite.

New York Fed president calls Puerto Rico's recovery from the COVID-19 slump "astounding."

Many Puerto Rico legislators want the governor to cut PREPA's debt by 75% before they will support his spending measure.