Puerto Rican lawmakers yesterday said that they will ask local regulatory bodies to cancel a landmark deal that put the island’s ailing energy grid into private hands, Bloomberg News reported.
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Puerto Rico ended its nearly five-year bankruptcy as the commonwealth restructured $22 billion of debt, a crucial step that aims to help the island’s economy and repair its finances, Bloomberg reported. The U.S.
Puerto Rico will formally end its bankruptcy on Tuesday as the federally appointed financial oversight board implements key provisions of the commonwealth’s debt adjustment plan, including the establishment of a pension reserve trust and the exchange of existing bonds for new debt, Reuters reported.
The federally appointed board overseeing the bankruptcy of Puerto Rico’s electric power authority must submit a new debt adjustment plan quickly after an existing agreement to restructure more than $8 billion in debt was axed by the island’s governor on Tuesday, Reuters reported. U.S.
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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.