On Thursday, the House passed legislation 297-127 that would allow the restructuring of some of Puerto Rico's $70 billion debt and would create a financial control board to oversee negotiations with creditors and courts. No taxpayer funds will be provided to reduce the debt, and the U.S. territory of 3.5 million people must make a fiscal plan that would provide "adequate" funds for public pensions, The Associated Press reports. Puerto Rico has missed several payments to creditors, and has a $2 b...
On Thursday, the House passed legislation 297-127 that would allow the restructuring of some of Puerto Rico's $70 billion debt and would create a financial control board to oversee negotiations with creditors and courts. No taxpayer funds will be provided to reduce the debt, and the U.S. territory of 3.5 million people must make a fiscal plan that would provide "adequate" funds for public pensions, The Associated Press reports. Puerto Rico has missed several payments to creditors, and has a $2 b...
Share this Article
Recommended