Puerto Rico is expected to post a cumulative budget surplus of $15.2 billion through 2035 as $123.5 billion of federal disaster funds and coronavirus relief money helps boost the local economy, according to the commonwealth’s latest fiscal plan and reported by Bloomberg.
Puerto Rico in Distress
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The Puerto Rico Oversight Board sought on Tuesday to restart suits on $6.4 billion of revenue bonds and to set the central government bankruptcy disclosure hearing for June 16, The Bond Buyer reported. The board also extended a deadline for the bond insurers to withdraw their support of the debt deal.