Billions in federal dollars are pouring into Puerto Rico to address damage wrought by Hurricane Maria last year, rekindling concerns about the U.S. territory’s credibility as a fiscal steward, WSJ Pro Bankruptcy reported.
Puerto Rico in Distress
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Puerto Rico’s federal overseers are poised to raise their forecast for the island’s budget surplus over the next four decades after an influx of aid and rebuilding from last year’s storm is expected to give a jolt to the economy, Bloomberg reported.
Investors who lost money on UBS Group AG mutual funds stuffed with Puerto Rico government bonds can’t sue as a group, a federal judge said Monday, a setback in their efforts to collect from the Swiss financial services giant, the WSJ Pro Bankruptcy reported. The ruling by Judge Sidney H. Stein of the U.S.
The Puerto Rican government is taking a hard line on rebuilding properties decimated by last year’s Hurricane Maria, offering homeowners federal financial assistance only if they move out of flood-prone areas, the Wall Street Journal 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.