Puerto Rico

Reports are coming out of Puerto Rico that the commonwealth government's finance team is likely to see major changes in the near future.

Puerto Rico Gov. Alejandro García Padilla appointed Victor Suárez Melendez as his new chief of staff Sept. 19.

Puerto Rico's unemployment rate rose to 13.5% in August from 13.1% in July.

Construction on the final phase of a major Puerto Rico housing and commercial development project in San Juan started Sept. 18.

Puerto Rico House of Representatives President Jaime Porelló Borás is working to have Puerto Rico's anticipated $900 million tax and revenue anticipation note governed by New York State law.

Puerto Rico plans to sell a $900 million tax and revenue anticipation note within the next 30 days.

Puerto Rico's August revenues were 5.8% less than projections.

The Puerto Rico Electric Power Authority appointed Lisa Donahue as its chief restructuring officer citing her successful experiences turning around distressed large companies.

The New York Times is reporting that AlixPartners will lead the restructuring of the Puerto Rico Electric Power Authority.

Two key members of the Puerto Rico House of Representatives have proposed significant changes to Puerto Rico's tax system.