Right Side News
PROMESA provides for reforms for Puerto Rico Debt Crisis[/caption] The U.S. territory of Puerto Rico finds itself facing more than $118 billion in debt from bonds and unfunded pension liabilities. The government has been unable to manage this debt and has already begun defaulting on its repayment. As a result, Congress has debated how it […]
Obama Administration seeks bankruptcy for Puerto Rico financial crisis[/caption] The financial crisis in Puerto Rico has attracted the attention of both Congress and the Obama White House. Treasury Secretary Jacob Lew has written to leaders in Congress urging them to pass a package of bailouts and bankruptcy protection for the Commonwealth of Puerto Rico. In […]