The Justice Department is attempting to replace the top federal prosecutor in Puerto Rico, who has been quietly campaigning to keep her job, WSJ Pro Bankruptcy reported. The Justice Department is close to proposing a candidate to succeed Rosa Emilia Rodríguez-Vélez, the U.S. attorney for the district of Puerto Rico. Ending her nearly 12-year tenure in office would require the U.S.
Puerto Rico in Distress
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Major Puerto Rico creditors agreed how to split up sales-tax collections and cut $10 billion in public debt but were rebuffed by the U.S. territory’s federal financial supervisors, WSJ Pro Bankruptcy reported.
Puerto Rico’s federally appointed oversight board yesterday rejected the U.S. territory’s budget proposal for next fiscal year, saying it did not comply with a financial turnaround plan for the island approved by the board last month, Reuters reported.
Puerto Rico Gov. Ricardo Rosselló’s proposed fiscal year 2019 General Fund budget allocates $0 for paying the island's central government debt, the Bond Buyer reported.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.