Puerto Rico Infrastructure Financial Authority

The report aims to answer how the debt problem developed and to make recommendations to prevent such a problem from ever arising again in Puerto Rico.

A judge's ruling on whether the U.S. government is responsible for covering Oversight Board-imposed bond losses may come in the winter.

Key parties say the Oversight Board must certify a fiscal plan with more revenue before they will approve the agreement.

In early December a Puerto Rico government official said that he expected the fiscal year General Fund revenues to be 25% less than budgeted.

The Puerto Rico Oversight Board, the government of Gov. Ricardo Rosselló, COFINA senior bondholders’ representatives, COFINA subordinate bondholders’ representatives, and bond insurers agreed to the deal.

A draft of the plan in early July indicated that 71.3% of the funding was to come from the federal government.

The governor vowed to disobey Swain’s order, which he said would end Christmas bonuses or lead to "massive layoffs."

Christian Sobrino Vega takes over directorship of the agency in charge of debt restructuring from Gerardo Portelo Franco,

Puerto Rico has released three key reports since July 10.

“I realize the urgency of the situation,” U.S. District Court Judge Swain said at the end of the Title III bankruptcy hearing in San Juan.

Governance issues are likely to remain regardless of how Judge Laura Taylor Swain rules on Gov. Ricardo Rosselló's adversary complaint

June's unemployment rate was the lowest monthly rate since at least 1975.

The board has claimed its policies must be followed to make money available for bond payments.

Bondholders have long complained about the local government's lack of timely and accurate financial information.

The board responded that it would vigorously defend its budget and fiscal plan.

Oversight Board members blamed the reduction in available revenue in part on local government's failure to introduce at-will employment.

Revenues through the first 11 months of the fiscal year were 1% ahead of projections.

Senate president threatens lawsuits against anticipated Oversight Board labor policy and budget.

The territorial government's resistance to the labor law may prompt Oversight Board to approve its own version of the budget due this month.

A brief period of peace between the Oversight Board and the governor may soon end.