Puerto Rico's government said that it will miss some debt payments due yesterday, including another payment on general obligation (GO) bonds backed by the U.S. territory's constitution, Reuters reported yesterday.
Puerto Rico in Distress
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Puerto Rico's governor signed a law that allows him to define essential government services and set aside money to pay for them, setting the vision of how to prioritize a mountain of obligations the struggling U.S. territory cannot afford, Reuters reported yesterday. Gov.
Puerto Rico's federal oversight board voted to give the debt-laden U.S. territory more time to submit a fiscal turnaround plan and to restructure $70 billion in debt without fear of lawsuits, Reuters reported on Saturday. The seven-member board voted at a public hearing to extend to May 1 from Feb.
Puerto Rico's new governor wants to replace a law that allows the U.S. territory redirect revenues earmarked for bondholders to pay for essential services, the latest move to court holders of $70 billion in debt ahead of high-stakes restructuring talks, Reuters reported yesterday.
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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.