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Friday, January 15, 2016

Puerto Rico 'in midst of economic collapse'

Puerto Rico 'in midst of economic collapse'

In a letter to Congress, US Treasury Secretary Jacob Lew urged passage of bankruptcy legislation for Puerto Rico weighed down by $70 billion in debt and the effects of a decade of recessionPuerto Rico's economy is collapsing, US Treasury Secretary Jacob Lew said Friday as he announced a visit to the US territory two weeks after its debt default. In a letter to Congress, Lew urged passage of bankruptcy legislation for the Caribbean island weighed down by $70 billion in debt and the effects of a decade of recession. "Although there are many ways this crisis could escalate further, it is clear that Puerto Rico is already in the midst of an economic collapse," Lew said in the letter, addressed to Speaker of the House of Representatives Paul Ryan.


UPDATE 1-U.S. Treasury's Lew urges action on Puerto Rico ahead of visit
Lew, who will visit San Juan Jan. 20, will meet with Puerto Rico Governor Garcia Padilla, among others, to "discuss the urgent situation in Puerto Rico," the department said in a statement. "In order to assist the 3.5 million Americans living in Puerto ...
US Treasury Secretary demands action on Puerto Rico's crisis

FILE - In this Nov. 2, 2015 file photo, Treasury Secretary Jack Lew, center, with Federal Reserve Chair Janet Yellen, left, speaks at the Financial Stability Oversight Council meeting at the Treasury Department in Washington. Lew is scheduled to meet on Wednesday, Jan. 20, 2016 with Puerto Rican government officials and business leaders to talk about the territory's worsening economic crisis. (AP Photo/Pablo Martinez Monsivais, File)SAN JUAN, Puerto Rico (AP) — U.S. Treasury Secretary Jacob Lew urged Congress on Friday to pass legislation by March to help ease Puerto Rico's economic crisis before it's too late.


US Treasury Secretary demands action on Puerto Rico's crisis

FILE - In this Nov. 2, 2015 file photo, Treasury Secretary Jack Lew, center, with Federal Reserve Chair Janet Yellen, left, speaks at the Financial Stability Oversight Council meeting at the Treasury Department in Washington. Lew is scheduled to meet on Wednesday, Jan. 20, 2016 with Puerto Rican government officials and business leaders to talk about the territory's worsening economic crisis. (AP Photo/Pablo Martinez Monsivais, File)SAN JUAN, Puerto Rico (AP) — U.S. Treasury Secretary Jacob Lew urged Congress on Friday to pass legislation by March to help ease Puerto Rico's economic crisis before it's too late.


Guy Turcotte, who murdered his two children, must serve 17 years before parole eligibility
Well, mission accomplished — thanks to a Canadian dollar that has slumped below 70 cents... SAN JUAN, Puerto Rico - U.S. Treasury Secretary Jacob Lew urged Congress on Friday to pass legislation by March to help ease Puerto Rico's economic crisis before ...
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