Puerto Rico Electric Power Authority

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

Some say judge's goal of a May 2 plan of adjustment seems increasingly unlikely.

The governor highlighted the positive role of federal aid on the island.

The commonwealth's unemployment rate hit a record low in February.

The board said the projects will result in up to $387 million of savings over a 15-year period.

Some critics say relying on federal aid may obscure the underlying problems Puerto Rico faces in the longer term as it emerges from bankruptcy.

Any new debt deal already would require rate increases to cover debt service on the authority’s roughly $9 billion of debt.

Swain said several mediators involved in the central government's plan of adjustment are unavailable for the PREPA deal. The Oversight Board says the local legislature will not be included in the negotiations.

A status report on the PREPA deal is due by noon on Friday.

Judge Laura Taylor Swain says the termination of the PREPA deal could be a "major setback" to adjusting the authority's liabilities.

While the governor is hoping for a deal that would be cheaper for Puerto Rican consumers, the result may be the opposite, critics say.

The governor wants the current deal revised and to be able to participate in any mediation talks. Bond insurers, the Unsecured Creditors Committee and authority’s fuel line lenders also want to be included.

The board also says the bondholders' proposed deadlines for completing a restructuring are too tight.

The Oversight Board also approved a new fiscal plan for the Highways and Transportation Authority.

They say a Plan B that does not involve local legislative approval must be negotiated.

Judge Laura Taylor Swain's action allows LUMA Energy to continue to operate.

Jaresko's resignation comes the same week as more than 40 Puerto Rican groups called for the disbandment of the Oversight Board in a letter to President Joe Biden.

Local legislators may be opposed to the current PREPA bond deal.

More federal Medicaid funding and higher-than-expected economic growth will lead to more revenues, the board expects.

The law concerning bankruptcy advisor disclosures comes after the SEC fined Oversight Board advisor McKinsey in November.