The chairman of the U.S. House Committee on Natural Resources censured Puerto Rico’s federally-appointed oversight board yesterday over delays in the island’s debt restructuring, the latest sign of discord over how to fix the bankrupt, storm-ravaged U.S. territory, Reuters reported. In a letter to the board, which was created by U.S. Congress in 2016 to manage Puerto Rico’s finances, Rep.
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Puerto Rico’s governor yesterday withdrew his labor reform proposal after the island’s oversight board demanded additional measures, deepening a divide in the parties’ efforts to reach a consensual turnaround plan for the bankrupt, storm-ravaged island, Reuters reported.
Puerto Rico’s benchmark bond surged to a 25-week high yesterday, its busiest trading day since October, after the bankrupt U.S. territory nearly doubled its projected five-year surplus to $6 billion as it recovers from Hurricane Maria, Reuters reported.
Puerto Rico’s federally appointed Financial Oversight and Management Board said on Friday it would postpone certification of the bankrupt U.S. commonwealth’s fiscal plan and announce a new certification date soon, Reuters 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.