News
Fiscal board: PREPA request for $200 million lacks financial data (The San Juan Daily Star, 12/30/22)
Puerto Rico doesn’t expect to sell bonds before 2025 (The Bond Buyer, 12/22/22)
Congress reaches deal to Keep Puerto Rico’s Medicaid program funded (NBC News, 12/20/22)
Congress clinches deal to fund Medicaid programs in Puerto Rico, other territories (The Washington Post, 12/19/22)
House passes bill calling for binding vote on statehood for Puerto Rico (The Washington Post, 12/15/22)
Puerto Rico Housing Department asks for more time to use CDBG-DR funds (El Nuevo Dia, 12/7/22)
Legal push to cut Puerto Rico power company debt delayed (Associated Press, 12/1/22)
Proposed tax changes to include requiring contributions from Act 22 beneficiaries (The San Juan Daily Star, 2/3/22)
Puerto Rico Board may move solo on PREPA restructuring (The Bond Buyer, 1/28/22)
Approved fiscal plan says PR won’t face budget deficits until 2048 (The San Juan Daily Star, 1/28/22)
PR board passes fiscal plan with 18% more spending (The Bond Buyer, 1/27/22)
Puerto Rico Approved to Exit Bankruptcy, Ending Record Saga (Bloomberg, 1/18/22)
Puerto Rico Bankruptcy Judge approves Plan of Adjustment (The Bond Buyer, 1/18/22)
FOMB Statement – POA Confirmation (Financial Management and Oversight Board Press Release, 1/18/22)
FEMA stays focused on earthquake recovery (The San Juan Daily Star, 1/13/22)
Broad support for POA signaled as confirmation hearings begin (The San Juan Daily Star, 11/9/21)
Puerto Rico bankruptcy nears end as debt plan goes up for approval (Reuters, 11/9/21)
After weeks of uncertainty, Puerto Rico board files new Plan of Adjustment (The Bond Buyer, 11/5/21)
Judge advances Puerto Rico Board’s pension interpretation of bond bill (The Bond Buyer, 11/3/21)
Housing: $184 million in federal disaster recovery funds target island’s south (The San Juan Daily Star, 11/1/21)
Puerto Rico leaders welcome Biden’s $1B SSI benefits (The Bond Buyer, 10/29/21)
Puerto Rico Board OKs plan confirmation without mediation (The Bond Buyer, 10/28/21)
Energy regulator greenlights 38 LUMA T&D projects totaling $653 million (The San Juan Daily Star, 10/20/21)
COFINA meets debt payments for 3rd straight year (The San Juan Daily Star, 10/20/21)
Puerto Rico House Passes Bond Bill to Restructure Debt (Bloomberg, 10/19/21)
Puerto Rico’s leaders welcome Oversight Board deal (The Bond Buyer, 10/15/21)
PREPA official tells congressional panel of major system overhaul in the works (The San Juan Daily Star, 10/7/21)
PREPA report shows extent of disrepair in generation area (The San Juan Daily Star, 10/5/21)
PRASA puts $77 million in infrastructure projects out to bid (The San Juan Daily Star, 10/4/21)
Medicaid funding bill for PR goes to White House for Biden’s signature (The San Juan Daily Star, 10/1/21)
Economic cabinet backs enabling legislation for debt deal, with technical tweaks (The San Juan Daily Star, 9/30/21)
Josué Colón returns as PREPA executive director (The San Juan Daily Star, 9/30/21)
Ex-Housing chief Gil-Enseñat named new PREPA board chairman (The San Juan Daily Star, 9/29/21)
Economic Activity Index rises 5 years in a row (The San Juan Daily Star, 9/29/21)
FEMA backs resident commissioner’s claim that PREPA has not filed for disbursement of funds (The San Juan Daily Star, 9/23/21)
FEMA outlines processes for island’s power grid projects (The San Juan Daily Star, 9/23/21)
Puerto Rico House to Unveil Bond-Cutting Bill for Next Week: Speaker (Bloomberg, 9/21/21)
Pierluisi: PREPA’s privatization will resolve island’s power issues (The San Juan Daily Star, 9/21/21)
Optimism stems from congressional proposals (El Nuevo Dia, 9/14/21)
Tourism execs: Puerto Rico needs to pump millions into infrastructure to compete (News Is My Business, 9/14/21)
Business leaders discuss future of island manufacturing (The San Juan Daily Star, 9/15/21)
PREB approves rebuild of Naguabo wind farm flattened by hurricane (The San Juan Daily Star, 9/14/21)
Passenger traffic up 14.8% at Luis Munoz Marin Int’l Airport last month, vs. Aug. ’19 (News Is My Business, 9/8/21)
Market access issues may delay fiscal board’s departure from PR (The San Juan Daily Star, 9/8/21)
Resident commissioner files petition in SSI case before US Supreme Court (The San Juan Daily Star, 9/8/21)
Bill would enable offshore wind projects in PR, other territories
(The San Juan Daily Star, 9/8/21)
Puerto Rico stands to receive well over $1 billion if federal infrastructure bill becomes law (The San Juan Daily Star, 8/11/21)
Fiscal board extends offer to certain lenders for joining debt adjustment plan (The San Juan Daily Star, 8/10/21)
Puerto Rico P3 Authority seeking co.’s to modernize HTA’s digital infrastructure (News Is My Business, 8/10/21)
Puerto Rico board sets out argument for Plan of Adjustment (The Bond Buyer, 8/6/21)
Puerto Rico’s Economic Activity Index shows Y-o-Y increase of 7.9% in May (News Is My Business, 7/15/21)
Judge Swain Issues Preliminary Backing of POA Disclosure Statement (Caribbean Business, 7/14/21)
Oversight Board reached agreements with additional creditors: Support Agreement with Unsecured Creditors; Proposal for an Agreement with Teachers Unions (FOMB release, 7/14/21)
Governor taps Marrero Díaz for secretary of state (The San Juan Daily Star, 7/13/21)
E&C Leaders Announce Medicaid Funding Agreement for Puerto Rico and the U.S. Territories (House Energy and Commerce Committee Release, 7/9/21)
Puerto Rico Economic Development Bank: 80,000 Jobs Recovered (Caribbean Business, 7/7/21)
Passenger traffic at LMM up 13.7% in June ’21 vs. ’19’s pre-pandemic levels (News Is My Business, 7/7/21)
AAFAF: Gov’t bank balances grew by 12% in May (The San Juan Daily Star, 7/5/21)
COR3 continues apace with recovery projects (The San Juan Daily Star, 7/5/21)
Manufacturing Index Continues to Grow and Recover (Caribbean Business, 7/2/21)
General Fund’s March Net Revenues Exceed Projections (The Weekly Journal, 6/10/21)
Puerto Rico revenues beat projections by 19% over three quarters (The Bond Buyer, 6/10/21)
InvestPR looks to position Puerto Rico as ‘next global BioSciences Manufacturing destination’ (News Is My Business, 6/10/21)
Gov. Pierluisi Spearheads Meeting for Medicaid Funding (Caribbean Business, 6/2/21)
House speaker seeks unified call for PR’s full inclusion in federal social programs (The San Juan Daily Star, 6/1/21)
Resident Commissioner joins bipartisan push to make all emergency materials ‘in the USA’ (The San Juan Daily Star, 5/31/21)
Puerto Rico Board Seeks Island’s Bankruptcy Exit This Year (Bloomberg, 5/27/21)
Think tank: Broader discussion needed on use of federal recovery funds (The San Juan Daily Star, 5/27/21)
With debt deal filed, Puerto Rico is now closer to exiting bankruptcy (The San Juan Daily Star, 5/13/21)
Fiscal board submits $10.1 billion budget proposal to Legislature (The San Juan Daily Star, 5/13/21)
Gov. Pierluisi Requests U.S. Treasury to Distribute ARPA Funding: Puerto Rico Should Receive Some $2.47 billion (Caribbean Business, 5/12/21)
Puerto Rico Oversight Board affirms PREPA deal (The Bond Buyer, 5/12/21)
Oversight Board Submits Third Amended Plan of Adjustment to Reflect Agreements with Additional Creditors (Financial Oversight and Management Board for Puerto Rico, 5/12/21)
Bond insurers solidify their support for Puerto Rico deals (The Bond Buyer, 5/6/21)
Puerto Rico bankruptcy judge sets disclosure hearing date (The Bond Buyer, 5/5/21)
Puerto Rico governor vetoes delay to electric privatization (The Bond Buyer, 5/5/21)
Stensby: LUMA grid management will mean fewer energy consultants (The San Juan Daily Star, 5/3/21)
Judge reserves ruling on whether LUMA payments should be granted priority (The San Juan Daily Star, 4/29/21)
Bill refiled in Congress to develop renewable energy in PR, USVI (The San Juan Daily Star, 4/29/21)
Puerto Rico board’s population number shown to be too pessimistic (The Bond Buyer, 4/27/21)
Puerto Rico Debt Crunch Eases as U.S. Aid Lifts Surplus (Bloomberg, 4/24/21)
Statehood for Puerto Rico would kill its triple-tax-exemption (The Bond Buyer, 4/27/21)
Puerto Rico to distribute $750 million for permanent recovery projects (The San Juan Daily Star, 4/22/21)
Governor names task force on Medicaid & Medicare (The San Juan Daily Star, 4/20/21)
Puerto Rico Towns to Receive Additional $100M in Pandemic Aid: Funds Totaling $300M for Emergency Services During Covid-19 Crisis (Caribbean Business, 4/14/21)
Lawmakers who weren’t co-sponsors of Statehood Admission Act will vote in favor (The San Juan Daily Star, 4/15/21)
Puerto Rico gets an advocate in the White House (The Bond Buyer, 4/13/21)
Federal Treasury Dept. OKs coronavirus stimulus distribution plan for Puerto Rico (The San Juan Daily Star, 4/13/21)
Conditions for LUMA Energy’s takeover of PREPA’s T&D have not yet been met (The San Juan Daily Star, 4/12/21)
Darren Soto says any congressional status agreement must seek a permanent solution (El Nuevo Dia, 4/10/21)
Puerto Rico Seizes on Junk-Bond Rally With $1.8 Billion Sale (Bloomberg, 4/8/21)
PR board seeks to restart revenue bond cases, set disclosure hearing (The Bond Buyer, 4/7/21)
Puerto Rico revenues exceed projections by double-digits (The Bond Buyer, 4/6/21)
Treasury Dept.; Jan. collections at $817M, beating forecast by $62.3M (News Is My Business, 4/6/21)
Puerto Rico ERS bond deal reached (The Bond Buyer, 4/5/21)
Pierluisi seeks ‘equality’ for Puerto Rico in testimony before US House panel (The San Juan Daily Star, 3/25/21)
Puerto Rico awarded $900M to help boost island’s education (The Associated Press, 3/23/21)
Nearly $600 million allocated for PAN, equaling funding levels in states (The San Juan Daily Star, 3/22/21)
Puerto Rico seeks repeal of Medicaid cap to avoid fiscal cliff (The San Juan Daily Star, 3/18/21)
Puerto Rico to get an estimated $10 billion in federal emergency aid (The Bond Buyer, 3/17/21)
Puerto Rico’s COVID-employment decline less than U.S. states (The Bond Buyer, 3/17/21)
Puerto Rico sees surge in tourism levels (The San Juan Daily Star, 3/17/21)
Gov’t redistributes up to $1B in disaster relief funds for island mayors (The San Juan Daily Star, 3/17/21)
US senators file PR statehood bill (The San Juan Daily Star, 3/18/21)
Puerto Rico Files Debt Cutting Plan to Bankruptcy Court (Bloomberg, 3/9/21)
Gov’t delivers draft fiscal plan to oversight board ‘to put Puerto Rico on the road to progress’ (The San Juan Daily Star, 3/10/21)
Fiscal board files amended debt adjustment plan, disclosure statement (The San Juan Daily Star, 3/10/21)
Gov’t urges local business owners to request disaster relief aid ‘to promote economic growth’ (The San Juan Daily Star, 3/9/21)
P3 Authority announces two proposed public-private partnerships (The San Juan Daily Star, 3/9/21)
Puerto Rico Treasury Assures Commonwealth is Getting its Financial Act Together (Caribbean Business, 3/4/21)
Puerto Rico statehood bill reintroduced (The Bond Buyer, 3/2/21)
Puerto Rico Manufacturing Purchasing Managers Index up to 52.4 in January (News Is My Business, 3/2/21)
Puerto Rico tries to pave the road to sell new bonds (The Bond Buyer, 3/1/21)
Supreme Court to consider case impacting Puerto Rico economy (The Bond Buyer, 3/1/21)
Regulator Will Probe Alleged Irregularities in Prepa Billing Practices (Caribbean Business, 3/1/21)
Puerto Rico board takes steps to advance audited financials: An outside consultant provided recommendations on how the commonwealth can catch up on its long-delayed financial reporting, including a multi-year CAFR (The Bond Buyer, 2/26/21)
Puerto Rico Housing Dept.: $800 Million in CDBG-DR Funds Available (Caribbean Business, 2/25/21)
Puerto Rico to Slash Bond Debt in New Restructuring Pact (Bloomberg, 2/23/21)
Puerto Rico Rides Muni-Bond Rally to Bankruptcy Deal (The Wall Street Journal/Dow Jones, 2/23/21)
LUMA Presents Recovery and Transformation Plans: Recommends no rate increase, commits to substantial improvements in safety, customer service and reliability (The Weekly Journal, 2/22/21)
LUMA Energy will not increase energy rates through ’24 (News is My Business, 2/22/21)
General Fund Net Revenues Surpass Estimates in December 2020: $180 million more than revenues from December 2019 (The Weekly Journal, 2/18/21)
Puerto Rico revenues coming in well ahead of projections (The Bond Buyer, 2/18/21)
Charles Schumer reaffirms he will not support a pro-statehood bill for Puerto Rico (El Nuevo Dia, 2/18/21)
Governor announces $100 million for towns (The San Juan Daily Star, 2/18/21)
Puerto Rico Treasury Disburses Over $1 Billion of the Economic Impact Payment: Expects to finish disbursements this week (The Weekly Journal, 2/17/21)
Behind on legal requirements PREPA submits to PREB its list of green energy projects totaling 150 MW (The San Juan Daily Star, 2/15/21)
Puerto Rico governor: Congress ‘morally obligated’ to act on statehood vote (The Hill, 2/14/21)
Oversight Board: Agreement in Principle on $7 Billion of Debt Reached (Caribbean Business, 2/10/21)
Full Child Tax Credit for Puerto Rico Included in U.S. Budget Bill (Caribbean Business, 2/9/21)
Gov’t pinpoints 10 priority reconstruction projects to propel economic development (The San Juan Daily Star, 2/9/21)
GAO urges better guidance in FEMA public assistance, Medicaid procurement in PR (The San Juan Daily Star, 2/9/21)
PR to receive $6.2 billion in HUD funds for long-term projects (The San Juan Daily Star, 2/3/21)
Biden administration moves to free up $1.3 billion in funding for Puerto Rico (The Hill, 2/2/21)
Pro-statehood lawyer to fiscal board: Real cause of fiscal woes is status (The San Juan Daily Star, 2/2/21)
Pierluisi calls for more ‘communicative’ relations with oversight board (The San Juan Daily Star, 2/1/21)
Biden to Free Up Billions in Delayed Puerto Rico Storm Aid: The administration plans to release $1.3 billion that was meant to help Puerto Rico rebuild after Hurricane Maria in 2017, and will remove restrictions on another $4.9 billion (The New York Times, 2/1/21)
Puerto Rico’s electricity grid ranks last in utility performance survey (News Is My Business, 2/1/21)
Board: Puerto Rico pays millions in salary to non-workers (Associated Press, 1/29/21)
Pierluisi welcomes Biden executive order to encourage domestic manufacturing: Governor calls on U.S. president to rely on P.R. as ‘Made-in-America’ supplier of medicines amid Covid-19 crisis (Caribbean Business, 1/27/21)
Puerto Rico’s retail sales rise for 6th consecutive month (News is My Business, 1/28/21)
Puerto Rico officials hopeful of progress on statehood (The Hill, 1/27/21)
$832 Million in Attorney Fees for Puerto Rico Bankruptcy Process: 51.9 percent for the FOMB; 32.4 percent for the central government (The Weekly Journal, 1/27/21)
PREPA Kicks Off Revitalization Program With $10.7B Investment: FEMA funds to be used to modernize and repair electricity grid (The Weekly Journal, 1/21/21)
Governor creates committee to oversee LUMA-PREPA deal (The San Juan Daily Star, 1/14/21)
Governor to meet with oversight board Friday; required to turn in FY 2021 budget plan soon (The San Juan Daily Star, 1/13/21)
New Legislature to oversee gov’t agencies’ work and focus on budget (The San Juan Daily Star, 1/12/21)
Puerto Rico Treasury reports $656.1M in net income in November ’20 (News Is My Business, 1/7/21)
Prasa to Receive $3.7 Billion in Federal Reconstruction Funding (Caribbean Business, 1/5/21)
FEMA: Commitment Remains Strong 1 Year After Earthquakes (Caribbean Business, 1/5/21)
González Colón sworn in again as new US Congress is seated (The San Juan Daily Star, 1/4/21)
Incoming Puerto Rico Governor Declares ‘Fiscal Emergency’ (Bloomberg, 1/2/21)
Antonio Medina Comas named to Puerto Rico Oversight Board (The Bond Buyer, 12/15/20)
Puerto Rico Ad Hoc Group of Constitutional Debtholders Believes Existing Plan Support Agreement Continues to Represent the Best Path Forward for the Commonwealth (Business Wire, 12/14/20)
Head of transition committee scolds HTA chief for slowness in funds usage (The San Juan Daily Star, 12/11/20)
PRASA easily places $1.4B despite island bankruptcy (The Bond Buyer, 12/10/20)
Puerto Rico water utility issues $1.37 billion in refunding bonds: Shows Prasa regained access at ‘reasonable rates,’ official says (Caribbean Business, 12/10/20)
Puerto Rico’s Pierluisi names budget director (The Bond Buyer, 12/9/20)
PNP legislative majority approves bills to advance annexation in extraordinary session: One of the bills approved in the Senate seeks to allow the governor-elect to call a vote on political status during his term (El Nuevo Dia, 12/8/20)
Pierluisi Announces Cabinet Picks: Francisco Parés, Omar Marrero to retain leadership positions; new faces for other agencies (The Weekly Journal, 12/2/20)
Presumptive Puerto Rico governor-elect announces first cabinet nominations (Caribbean Business, 12/2/20)
Congress Analyzing Impact of Acts 20/22 on IRS: Aims to minimize revenue losses to government coffers (The Weekly Journal, 12/2/20)
New Progressive Party proposes a new status referendum: It seeks to validate the results in favor of statehood and grant greater powers to the Equality Commission, including a fund the Oversight Board cannot touch (El Nuevo Dia, 11/30/20)
Puerto Rico gov’t unveils $135M Aguadilla airport runway project (News Is My Business, 11/18/20)
Pierluisi presents agenda for the first 100 days of his administration (The San Juan Daily Star, 11/17/20)
Oversight Board vacancies won’t stop Puerto Rico debt restructuring (The Bond Buyer, 11/16/20)
Puerto Rico board member exercises exit veto (The Bond Buyer, 10/30/20)
Trump to appoint new member to Puerto Rico oversight board (Associated Press, 10/7/20)
Puerto Rico Fiscal Board Designates David Skeel as Chairman (Caribbean Business, 10/6/20)
Jaresko: $84 million in Education Dept. salary overpayments going back to 2007 included ex-employees (The San Juan Daily Star, 10/1/20)
Energy Bureau denies PREPA bill hike request (The San Juan Daily Star, 9/30/20)
Capital markets buy up refunded Puerto Rico housing bond issue (Caribbean Business, 9/29/20)
U.S. gov’t publishes prototype Puerto Rico report in effort to develop comparable economic data (Caribbean Business, 9/28/20)
Trump Shifts on Puerto Rico, Releases Aid as Election Nears: President Donald Trump has announced the release of $13 billion in assistance to repair the damage in Puerto Rico from Hurricane Maria three years ago, and has pledged to restore its economy (U.S. News & World Report, 9/18/20)
Biden ramps up Latino outreach with appeal to Puerto Rican voters in Florida (CNBC, 9/15/20)
Overdue 2017 Commonwealth Audit Submitted (Caribbean Business, 9/8/20)
Using just 2% of CDBG-DR funds shows Puerto Rico gov’t’s slow spending (News Is My Business, 9/4/20)