The House on Monday appointed Sen. Orrin Hatch (R-Utah) to serve as chairman of a bicameral task force charged with investigating the causes and possible solutions to Puerto Rico’s debt crisis, the Morning Consult reported yesterday. The House also formalized the appointments of Reps.
Puerto Rico in Distress
Video Features
ABI Analysis
This overview provides information about the major municipal borrowers in the Commonwealth of Puerto Rico and their bond programs.
A group of hedge funds sued the governor of Puerto Rico yesterday saying that he had started violating the island’s hard-won new debt-restructuring law before the ink from President Obama’s pen was even dry, the New York Times reported today.
The International Swaps and Derivatives Association yesterday said that it has determined that a failure to pay credit event occurred in respect to Puerto Rico missing bond payments of more than $900 million earlier this month, Reuters reported.
Other Resources
The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.