The already complicated quest for a resolution to Puerto Rico’s debt crisis became more complex with the sudden death on Saturday of Supreme Court Justice Antonin Scalia, whose passing could influence a pending Supreme Court case on the island’s debt, MorningConsult.com reported today. On March 22, the court will hear oral arguments in Puerto Rico v.
Puerto Rico in Distress
Video Features
ABI Analysis
Puerto Rico's House of Representatives yesterday approved a bill aimed at overhauling the island's troubled power utility PREPA, pushing the agency a step closer to finalizing a deal with creditors to restructure more than $8 billion debt a day before a key deadline, Reuters reported yesterday.
Puerto Rico’s government is trying to convince hundreds of wealthy investors to move to the U.S. territory, hoping they could help lift it out of a deepening economic crisis, the Associated Press reported today. Officials hosted a meeting for investors yesterday to promote local tax incentives aimed at luring the wealthy.
Creditors of Puerto Rico's sales tax authority, COFINA, made a counter-offer yesterday to Puerto Rico's Feb. 1 debt exchange proposal, saying that they would extend maturities but forgo cuts to principal that the original offer would entail, Reuters reported. The plan represents the first formal response from creditors to the debt-exchange proposal from the U.S.
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.