Puerto Rico Infrastructure Financial Authority

He said the board has been inaccurate in its financial predictions and that he wouldn’t participate in any cuts to pensioner benefits.

The board referred 13 public entities to the Puerto Rico Secretary of Justice and U.S. Department of Justice.

A surplus this coming fiscal year will be used in following years for debt and pension payments, Executive Director Natalie Jaresko said.

Over the first 10 months of the fiscal year, General Fund net revenues are 11% above October projections.

Court filings cast doubt on repayment of an additional $5.1 billion in the territory's debt restructuring.

The delay of $220 million of pension savings is the latest "upsetting piece of news for bondholders."

The board and the governor remain about $500 million apart on spending.

The anticipated surplus for fiscal years 2019 through 2013 has dropped to $11.6 billion from $15.1 billion, leaving less money for debt service and capital spending.

The plan continues a cut to the pension system found in earlier versions.

New expectations for disaster funding, gross national product growth rates, and population may change projections of money for debt.

The suits against non-bond creditors are a step in an effort to claw bank money that will extend to bondholders.

Puerto Rico’s Federal Oversight Board is asking the U.S. Supreme Court to overturn a ruling that deemed its members unconstitutionally appointed.

The Oversight Board in its fiscal plan had projected a 5.06% population drop after the 2017 hurricanes; the Census Bureau found a 3.9% decline.

January revenue beat the original budget projection by 36%, raising hopes that there will be more money to pay bondholders as the island's debt is restructured.

Ambac and FGIC filed motions in support of the Puerto Rico Oversight Board's effort to declare illegal $6 billion of the commonwealth's bonds.

The proposed 2020 budget has $139 million for the payment of debt.

The board acknowledged Puerto Rico is in compliance with the fiscal 2019 budget, even as it wrangles with the local government over next year's plan.

As the board wrangles with local officials over the budget, neither the federal courts nor the executive branch have taken action to address a legal challenge to its authority.

The Board's authority to certify fiscal plans has become a flashpoint in an escalating battle with Puerto Rico's government.

The General Obligation group's lawyer says the board should focus on structural reforms and not legal challenges to bondholder claims.