Puerto Rico’s financial oversight board is aiming to get the commonwealth out of its record bankruptcy by the end of 2021, a move that is expected to help lift the island out of years of economic decline, Bloomberg News reported.
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A bond insurer can access a limited pool of information explaining Puerto Rico's cash position amid ongoing efforts to restructure the commonwealth’s debt stack, but it is not entitled to more information related to the territory's real estate assets right now, a judge ruled on Monday, Reuters reported. U.S.
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.