Puerto Rico

Candidates to become Puerto Rico’s next governor advocate solutions ranging from a local debt authority, to statehood, to a moratorium on principal payments.

Puerto Rico’s inflation-adjusted gross national product declined by 0.6% in 2015 from 2014.

The Puerto Rico Senate put an end Thursday to the roll out of a value added tax.

A key Puerto Rico leader, David Bernier, said he would sue to block a federal control board over Puerto Rico.

Gov. Alejandro García Padilla’s proposed budget anticipates the continued payment of bonds of the Puerto Rico Sales Tax Finance Authority in fiscal year 2016-2017.

Proposed House legislation designed to help Puerto Rico is moving to the full floor with light amendments after a 29-10 House Natural Resources Committee vote on Wednesday.

Leaders of the House Natural Resources Committee and Rep. Pedro Pierluisi on Tuesday night urged their colleagues to approve a bill to help debt-ridden Puerto Rico, even though they may not support certain provisions or worry the measure does not go far enough.

Analysts said the minimal allotment to debt service and a lack of other spending cuts add fuel to the argument that an outside control board, as being considered in the U.S. House of Representatives, is needed.

The Puerto Rico Electric Power Authority intends to increase rates by 4.3 cents per kilowatt-hour, it announced Tuesday.

Puerto Rico Gov. Alejandro García Padilla is proposing a budget for the coming fiscal year with 86% less money allocated to paying debt service than the approved current-year budget.