Puerto Rico Sales Tax Financing Corp (COFINA)

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 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.

The board aims to improve transportation resources on the island.

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

The Economic Activity Index was down 0.4% from October.

Ambac says that PROMESA is against the Constitution's call for uniform bankruptcy codes.

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

The aid is in response to Hurricanes Irma and Maria, which hit the island more than three years ago.