Puerto Rico Infrastructure Financial Authority

Reducing tax fraud is one of the goals of the fiscal plan approved by the Puerto Rico Oversight Board in May.

Net revenues in the first six months were $5.19 billion. Without postponed income tax revenues from the prior fiscal year, this figure would have been $4.711 billion.

Puerto Rico private sector employment had an even more serious contraction in 2020 on the island than it did in the United States as a whole.

The Oversight Board asked the court to extend its deadline for submitting various documents including a term sheet to restructure the central government debt.

The judges found the appellants had failed to seek stays or appeals of the approved bond restructuring — on about $17.6 billion of debt — in a timely fashion and the plan had advanced well beyond the point where it could be practically undone.

No ruling was issued and the judges' sympathies could not be easily deciphered.

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

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

Even with the November increase, General Fund Revenues collected from July to November were 5% below those of 2019.

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.

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.

How assumptions are settled on revenues, spending, and the economy will affect the Commonwealth debt plan.

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

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.

But the economy is still significantly smaller than it was a year ago.

Under certain conditions the board could submit the proposal to the court without a further vote.

A majority of the new Oversight Board members may be more creditor friendly.

Justin Peterson left the meeting to deprive the board of a quorum and prevent the adoption of a debt plan he opposes.