Puerto Rico

The GAO said that the $10.5 billion from the FEMA Public Assistance program might cover only about half of the $20.3 billion identified in Puerto Rico’s Grid Modernization Plan as necessary to repair the grid and make it more resilient.

The Supreme Court decision in the Aurelius case that the Oversight Board was a local entity affected the U.S. Court of Federal Claims' decision.

But the economy is still significantly smaller than it was a year ago.

Under certain conditions the board could submit the proposal to the court without a further vote.

The authority is altering many of its operations and organizations, including exploring public-private partnerships and renewable energy resources.

A federal judge has set a Feb. 10 deadline for the Oversight Board to file “an informative motion presenting a term sheet disclosing the material economic and structural features of an amended plan of adjustment.”

A majority of the new Oversight Board members may be more creditor friendly.

A change in status would have both upsides and downsides for the island territory.

A nonbinding referendum on U.S. statehood was leading with more than 52% support, with more than 95% of votes counted, the Associated Press reported.

Justin Peterson left the meeting to deprive the board of a quorum and prevent the adoption of a debt plan he opposes.