Puerto Rico is bracing for a second day of protests Thursday as public-sector workers said they will continue to fight for higher wages and more pension guarantees as the U.S. commonwealth struggles to balance the demands of a historic bankruptcy against growing discontent, Bloomberg News reported.
Puerto Rico in Distress
Video Features
ABI Analysis
The executive director of Puerto Rico’s financial oversight board, Natalie Jaresko, is resigning from her position, having steered a historic debt restructuring that put the U.S. territory on firmer financial footing amid criticism from across the political spectrum, WSJ Pro Bankruptcy reported.
The Biden administration and Puerto Rico Governor Pedro Pierluisi reached a deal on Wednesday to revamp the U.S. territory’s outdated electric grid and move it towards renewable energy, securing over $12 billion in federal recovery funds, Reuters reported. Three federal agencies — the U.S.
Pay raises for teachers, firefighters, corrections officers and other employees were included in a revised fiscal plan approved Thursday that will serve as Puerto Rico’s economic blueprint criticized by some as the island emerges from bankruptcy, the Associated Press reported. A federal control board that oversees the U.S.
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.