Puerto Rico

José Pagán of the Government Development Bank of Puerto Rico defended Puerto Rico’s commitment to financial transparency.

A Puerto Rico public fund that issued a letter of credit is covering coupon payments after a bond default at a Trump Organization-managed golf resort.

The Government Development Bank of Puerto Rico said it recently sold $1.4 billion in notes to outside banks.

Puerto Rico's Economic Activity Index for July showed continued weakness, with the index down 5% year-over-year.

Standard & Poor's Municipal Bond Puerto Rico Index was down 8.9% for August through Wednesday, on track to be the worst performance in at least 14 years.

Bond insurers including Assured Guaranty and MBIA Inc. are on the hook for almost $16 billion of Puerto Rico debt as a new administration there aims to curb speculation that the U.S. territory could go the way of Detroit.

Puerto Rico's Treasury Department hired 65 auditors to cut down on tax evasion and fraud and increase recurring revenues.

The Government Development Bank of Puerto Rico released a preliminary estimate of total revenues for fiscal year 2013 at $8.5 billion.

The United States senator who chairs the Senate committee overseeing Puerto Rico said Thursday the island has only two choices for its future: statehood or independence.

Puerto Rico expects to adopt a balanced budget in the next few years, according to José Pagán, the interim president of the Government Development Bank of Puerto Rico.