Puerto Rico Officials Warn Government Shutdown Imminent

(Reuters) - Puerto Rico's Government Development Bank (GDB) has warned the government would likely face a shutdown in three months because of a lack of liquidity and said a financing deal currently appears unlikely, according to a letter sent to lawmakers. Puerto Rico faces a fiscal crisis and is trying to raise $2.95 billion in new financing while pushing through unpopular tax reforms such as hiking the value-added tax and increasing a levy on crude oil to help pay for it. Those efforts face st...