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Puerto Rico in Distress

Puerto Rico Financial Oversight and Management Board

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.

Video Features

Analysis

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.

Selected Articles / Analysis / Reports

Puerto Rico Governor Ricardo Rossello said that the government may need as long as five years to close a more than $7 billion budget shortfall, saying the deep spending cuts envisioned by the island’s federal overseers would deal a devastating blow to an already sputtering economy, Bloomberg News reported yesterday. Rossello’s comments signal a potential rift with the U.S.

Creditors of Puerto Rico's sales tax authority have asked a federal court to prevent the U.S. territory from diverting the revenue that guarantees its debt to repay other investors, Reuters reported yesterday. Crippled by high poverty and nearly insolvent public health and pension systems, Puerto Rico is trying to restructure $70 billion in debt to fend off economic catastrophe.

Puerto Rico Governor Ricardo Rossello faces a tough balancing act as he begins talks with creditors in a bid to reduce the territory’s $70 billion debt, Bloomberg News reported on Friday.

Puerto Rico Governor Ricardo Rossello said yesterday that the U.S. territory would make a $1.4 million interest payment on constitutionally-backed bonds by drawing on "clawback" money deposited at Banco Popular, Reuters reported. The payment to general obligation bondholders, which was due on Feb.

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