Puerto Rico Power Authority’s Debt Is Rooted in Free Electricity
AGUADILLA, P.R. — To understand how Puerto Rico’s power authority has piled up $9 billon in debt, one need only visit this bustling city spread along a bay on the northwest coast. Twenty years ago, it was just another town with dwindling finances and a ...
Puerto Rico proposes lenders take $22.7 bn haircut
SAN JUAN: Puerto Rico proposed Monday that its creditors slash its debt by $22.7 billion to enable the US territory to strengthen its finances and turn around its economy. Just ahead of negotiations with bondholders, the struggling Caribbean island ...
Puerto Rico wants to erase half its debt
Puerto Rico has a new plan to get out of its massive debt crisis: Use a big eraser. The island's taxpayers are currently on the hook to pay back about $50 billion. On Monday, Puerto proposed cutting that nearly in half to $26.5 billion. So far, Puerto Rico ...
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