Puerto Rico’s pro-statehood candidate Pedro Pierluisi yesterday was holding on to his narrow lead in the gubernatorial race as ballot counting continued and his chief rival refused to concede, Bloomberg News reported.
Puerto Rico in Distress
Video Features
ABI Analysis
A plan to pull Puerto Rico out of bankruptcy by 2021 hit a major obstacle on Friday when a new member that U.S. President Donald Trump appointed to a federal control board overseeing the island’s finances rejected the immediate filing of a debt restructuring proposal.
The judge overseeing Puerto Rico’s debt restructuring process has rejected a bond insurer’s request for an investigation into what it said were potentially improper bond trades based on information obtained during confidential mediation sessions, Reuters reported. During a telephonic hearing on Wednesday, U.S.
Seven members of the U.S. House of Representatives have sent a letter to the Puerto Rico Oversight Board asking it to postpone debt negotiations until an investigation of insider trading can be completed, Bond Buyer reported. U.S. Rep.
Other Resources
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.