Puerto Rico

Rosselló said PROMESA allows the Oversight Board to make public policy recommendations, but not to order labor law reforms and pension cuts.

Oversight Board is continuing its struggle with the Puerto Rico government over fiscal plans.

A deal in August would have allowed debt holders to get up to 75% of par value.

The latest proposed fiscal plan may allow up to 29.4% of debt to be paid through fiscal year 2023.

The credit unions say that Puerto Rico used fraud and pressure to get them to buy the government bonds.

Officials said forgiveness of the Community Disaaster Loan could be considered at a later point.

Information can be submitted on a confidential or non-confidential basis.

Guam, facing its own fiscal problems, isn't helped by the tumultuous Puerto Rico PROMESA process.

Mnuchin will hand-deliver documents related to the loan in his first visit to the territory as a public official, he said.

Some of the legal precedents potentially being set in Puerto Rico erode the expectations and good order of the municipal bond marketplace that finances the activities of states and municipal instrumentalities nationwide.