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The Board has now argued the case for federal endorsement of this latest version of the plan before the judge overseeing the process. The process has taken four years to reach…
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DOI: 10.1108/OXAN-DB265893
ISSN: 2633-304X
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Under the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) passed by the US Congress earlier this year, the oversight board can set the island’s fiscal…
PUERTO RICO: Judge signs off on final creditor deal
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DOI: 10.1108/OXAN-ES266766
ISSN: 2633-304X
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Puerto Rico has suffered from an inability to service its debts, as its economy has been in or near recession since 2005. Its population has declined -- especially the working age…
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DOI: 10.1108/OXAN-DB197864
ISSN: 2633-304X
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Fiscal pressures are causing controversy in Puerto Rico, but so too is fiscal policy-making. On July 5, Governor Ricardo Rossello announced that he would seek a court injunction…
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DOI: 10.1108/OXAN-DB236100
ISSN: 2633-304X
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PUERTO RICO: Debt ruling threatens island finances
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DOI: 10.1108/OXAN-ES197551
ISSN: 2633-304X
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The announcement would mark the largest subnational bankruptcy in US history, with Puerto Rico facing debt obligations of 73 billion dollars from an array of public entities and…
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DOI: 10.1108/OXAN-DB220641
ISSN: 2633-304X
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Among the cases the Court will consider in its first two months is one questioning the validity of Puerto Rico’s financial oversight board and another affecting waterborne…
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DOI: 10.1108/OXAN-DB246485
ISSN: 2633-304X
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The island's government and public agencies hold 72 billion dollars of debt obligations, but migration to the mainland United States, political unwillingness to cut spending and…