More than 100 elected officials lobby for PR in Congress
August 14, 2015
Bronx Borough President Ruben Diaz Jr. on Thursday sent a letter, in conjunction with more than 100 elected officials from across the nation, demanding immediate action from Congress to enact legislation that will allow Puerto Rico to enter bankruptcy.
chat_bubble0 Comment
visibility3147 Views
Bondholders demand that gov’t pay $58M PFC debt
August 7, 2015
OppenheimerFunds and Franklin Advisers, which represent Public Finance Corporation bondholders, sent a letter to Puerto Rico government officials demanding that they take “all necessary actions” to make the $58 million payment missed this week.
chat_bubble0 Comment
visibility4817 Views
Puerto Rico gov’t defaults, halts monthly GO transfers
August 4, 2015
Investors in Puerto Rico debt got double-whammied by the island’s government Monday, which missed a $58 million debt payment as it had predicted it would, and separately told creditors it has temporarily suspended monthly deposits to its General Obligation (GO) bonds redemption fund.
chat_bubble0 Comment
visibility2616 Views
Institute of Statistics takes over Data.PR.gov initiative
July 27, 2015
The Puerto Rico Institute of Statistics has begun taking over the job of maintaining and developing the government’s technology initiative to open and disclose its data known as Data.PR.gov.
chat_bubble0 Comment
visibility2956 Views
2 more U.S. Senators support Puerto Rico Chapter 9 bill
July 22, 2015
Resident Commissioner Pedro Pierluisi announced Tuesday that Senator Patrick Leahy of Vermont, the Ranking Democrat on the Senate Judiciary Committee, will cosponsor S. 1774.
chat_bubble0 Comment
visibility4161 Views
U.S. Senators submit companion Ch.9 inclusion bill
July 16, 2015
U.S. Senators Richard Blumenthal (D-Conn.) and Charles E. Schumer (D-N.Y.) announced The Puerto Rico Chapter 9 Uniformity Act, legislation they have co-authored and introduced to address the growing fiscal crisis in Puerto Rico by granting Puerto Rico the authority to allow its municipalities and public utilities to readjust their debts under the supervision of a bankruptcy court.
chat_bubble0 Comment
visibility2890 Views
Groups that sued gov’t over Recovery Act react to ruling
July 8, 2015
The creditors who sued the Puerto Rico government over the legality of the Debt Enforcement and Recovery Act said Tuesday the decision by the U.S. Court of Appeals to uphold a San Juan court’s determination that it was unconstitutional “protects bondholders across the United States.”
chat_bubble0 Comment
visibility3885 Views
P.R. governor creates work group to restructure debt
June 30, 2015
Puerto Rico Gov. Alejandro García-Padilla announced Monday a multi-pronged plan to address the island’s fiscal crisis to work with creditors on restructuring what he described as the “unpayable” $73 billion debt.
chat_bubble0 Comment
visibility3815 Views
Treasury ‘ready’ to handle sales tax rate increase
June 24, 2015
The Puerto Rico Treasury Department is prepared to handle the change rate of the Sales and Use Tax to 11.5 percent, from the current 7 percent, when it goes into effect July 1, agency Secretary Juan Zaragoza said Tuesday.
chat_bubble0 Comment
visibility4594 Views
GDB liquidity down 24% in May to $778.8M
June 16, 2015
The Puerto Rico Government Development Bank released Monday its latest liquidity report showing the agency had $777.8 million left as of May 31, representing a 24 percent drop from the $1.02 billion it had in April.
chat_bubble0 Comment
visibility3109 Views
Senate OKs comprehensive energy subsidies reform
June 9, 2015
The Senate approved Monday Bill 1256, which proposes overhauling energy subsidies and obliges the government to pay its debts to the Puerto Rico Electric Power Authority.
chat_bubble0 Comment
visibility4402 Views
GDB president berates Moody’s’ latest credit downgrade
May 22, 2015
Government Development Bank President Melba Acosta came down hard on Moody’s Investors Service’s decision to downgrade the Commonwealth’s credit rating deeper into junk status by saying the move shows “ratings agencies are totally out of tune with what’s happening” in Puerto Rico.
chat_bubble0 Comment
visibility3754 Views
García-Padilla presents $9.8B budget for Fiscal ’16
May 21, 2015
Puerto Rico Gov. Alejandro García-Padilla introduced Wednesday the measure paving the way for a $9.8 billion General Fund budget, and a $28.8 billion consolidated budget for Fiscal 2016.
chat_bubble0 Comment
visibility2854 Views
GDB’s liquidity down to $1.02B in April
May 18, 2015
The Government Development Bank for Puerto Rico released its most recent liquidity statement late last week, showing a balance of $1.02 billion net as of April 30, representing a drop from the $1.11 billion the agency reported for the prior month.
chat_bubble0 Comment
visibility3437 Views
Gov’t mulling at least 6 hybrid tax structure alternatives
May 14, 2015
Lawmakers and members of the executive branch gathered at the Puerto Rico Convention Center today are said to be considering six different scenarios that would combine a hybrid structure of a sales and use tax and a general excise tax to shore up the government’s finances.
chat_bubble0 Comment
visibility3196 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA