Puerto Rico Public Buildings Authority

The statement could be interpreted as also suggesting a restructuring of $242 million in bonds.

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

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

Although he called them "excessive and arbitrary," Gov. Pedro Pierluisi agreed to create a reserve fund, reduce the maximum conservation easement tax credit, and freeze implementation of a physician tax incentive.

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

The Oversight Board told Gov. Pedro Pierluisi he must take steps to make sure it's revenue neutral or it could block the new tax.

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

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

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 ruling means the Puerto Rico government will have $400 million less in its coffers.

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."

A board member and Gov. Pedro Pierluisi expressed disappointment about the inability of the board and the government to come to a consensus budget.

An appeals court ruled the Oversight Board can stop laws that are inconsistent with PROMESA's purpose.

The Oversight Board has issues with the joint resolution.

The bill, which would overturn a 2017 law, is awaiting Gov. Pedro Pierluisi's signature to become law.

A survey shows local business owners are more pessimistic than they were six months ago.