While the Puerto Rico Senate would not take up a House-approved budget amendment that would allocate money to repay bondholders, analysts expect the Oversight Board to approve the funding.
The measure authorizes spending $10.9 billion from past years’ revenues for paying various Plan of Adjustment entities, including nearly $8 billion to pay bondholders and bond insurers.
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Jaresko's resignation comes the same week as more than 40 Puerto Rican groups called for the disbandment of the Oversight Board in a letter to President Joe Biden.