Puerto Rico Sales Tax Financing Corp (COFINA)

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

The governor highlighted the positive role of federal aid on the island.

The commonwealth's unemployment rate hit a record low in February.

Some critics say relying on federal aid may obscure the underlying problems Puerto Rico faces in the longer term as it emerges from bankruptcy.

The Puerto Rico Fiscal Agency and Financial Advisory Authority has requested pre-qualified investment banks to provide ideas and opportunities for refunding for savings.

More federal Medicaid funding and higher-than-expected economic growth will lead to more revenues, the board expects.

The Economic Activity Index is up 3.5% from a year earlier.

One observer questions if enough money is available.

While the U.S. continues to lag pre-pandemic levels, Puerto Rico is now ahead by 2.3% from November 2019.

Revenues were also up compared to the first quarter of fiscal 2021.