Puerto Rico

2014* Data (Released 06/16/16)

Financial State of Puerto Rico

 

*2015 data is not yet available

 
Puerto Rico owes more than it owns.
Puerto Rico has a -$65,100 “Taxpayer Burden”.
Puerto Rico is a “Sinkhole” without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden, which is each taxpayer's share of the commonwealth's bills after its assets available have been tapped.
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt.
Puerto Rico has only $27.3 billion of assets available to pay bills totaling $114.8 billion.
To fill the $87.5 billion financial hole each Puerto Rico taxpayer would have to send $65,100 to the commonwealth.
A draft of the commonwealth's unaudited financial report was released 596 days after its fiscal year end, which is considered untimely according to the 180 day goal. 2015 financial statements have not yet been released (as of 6/16/2016).
 

Other Resources

Puerto Rico Comprehensive Annual Financial Report

Publishing Entity: Government Development Bank for Puerto Rico

IN THE NEWS
Puerto Rico’s bankruptcy is echoing across some $14 billion of muni bonds

MAY 23, 2019 | BARRON’S | by Alexandra Scaggs

“It might come as a surprise that about 10% of the Chicago Board of Education’s long-term debt is rated investment grade …  The investment-grade debt was issued in the form of special-revenue bonds, which are structured to provide bondholders with more security and higher recoveries in case of a bankruptcy. … Now those bonds’ ratings are being reviewed for a potential downgrade, after a recent appellate court decision raised questions about the special status of special-revenue bonds.”

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