Puerto Rico

Judge Swain approves another deadline extension for a proposed plan of adjustment.

Sponsors say bill is a chance to have territories' needs addressed.

The board and the PREPA bond parties told Swain they had reached "an agreement in principle to resolve the outstanding perfection issues" in the bankruptcy.

The FOMB needs to return to its "deal mindset" so that we can end the bankruptcy at PREPA. While gaps remain between the FOMB's and bondholders' affordability analyses, they are not insurmountable.

The May economic activity index showed an increase.

The money is to help AES-Puerto Rico continue to provide PREPA with electricity.

The fiscal 2024 General Fund increases 2.5%

U.S. District Judge Laura Taylor Swain ordered the Oversight Board propose a new plan of adjustment by July 14.

Judge Laura Taylor Swain said she found the Oversight Board expert's calculations more convincing than those of the bondholders.

The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.