Puerto Rico

The Puerto Rico Title III judge signaled she may reject a motion that would open the door to bondholders taking over the Puerto Rico Electric Power Authority.

The judge in the Puerto Rico Title III bankruptcy cases is scheduled to weigh motions by Puerto Rico Electric Power Authority and Puerto Rico Sales Tax Finance Corp. (COFINA) bondholders at a hearing Wednesday.

Puerto Rico’s June economic activity declined 0.5% compared to May and 2.1% compared to a year earlier.

The move, approved unanimously by the Board on Friday, sets up a conflict with the island's leaders.

The University of Puerto Rico will seek to reduce its debt-service costs through a consensual agreement with its creditors as the commonwealth plans to cut the school’s appropriations by $3.5 billion through 2026.

The Puerto Rico Oversight Board announced it was planning an investigation of the island’s public sector debt.

The Puerto Rico Oversight Board on Friday may institute mandatory government furloughs opposed by Gov. Ricardo Rosselló.

To make sure Puerto Rico’s government only spends on what it believes to be necessary, it has instituted a 5% spending freeze on its departments.

The Puerto Rico Oversight Board recommended shifting federal funding to an earned income tax credit from welfare programs on the island.

How far off could economic estimates be in Puerto Rico? The truth is that nobody knows.