Puerto Rico

Puerto Rico's ability to pass on-time budgets is poised to gain traction as the Legislature anticipates voting on a $9.13 billion spending plan for fiscal 2011.

University of Puerto Rico officials and students reached an agreement this week that will end a two-month strike that shut down campuses and will allow the university to complete the school semester.

Puerto Rico is embarking on a new school construction program that will incorporate a public-private partnership approach financed with $750 million of taxable qualified school construction bonds.

Here comes the private sector.

Puerto Rico will refund prior Puerto Rico Highways and Transportation Authority debt next week before heading to market with a combined new-money and refunding sales-tax bond deal.

The University of Puerto Rico is seeking more revenue from its student body to help close an estimated $166 million deficit for the upcoming school year and support capital projects.

MIAMI — With a clear need to invest in infrastructure and a large budget deficit, Puerto Rico is poised to launch its first public-private partnership projects.

After scrapping a plan to get more taxes from video lottery terminals, Puerto Rico officials must find $220 million from additional spending cuts and revenue initiatives before the end of the month to balance a proposed $9.2 billion fiscal 2011 budget.

An ongoing student strike at the University of Puerto Rico has placed the school semester on hold, but the standoff does not affect its ability to repay its $569 million of outstanding bonds, according to a university official.

Puerto Rico’s economic activity index for April increased by 0.8% over March, as payroll employment rose for the third month in a row.