Public school teachers in Puerto Rico called off a strike Thursday, after the government agreed to increase their base salary, make a new $1,000 a month raise permanent and engage in pension negotiations, Bloomberg News reported.
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Puerto Rico is bracing for a second day of protests Thursday as public-sector workers said they will continue to fight for higher wages and more pension guarantees as the U.S. commonwealth struggles to balance the demands of a historic bankruptcy against growing discontent, Bloomberg News reported.
The executive director of Puerto Rico’s financial oversight board, Natalie Jaresko, is resigning from her position, having steered a historic debt restructuring that put the U.S. territory on firmer financial footing amid criticism from across the political spectrum, WSJ Pro Bankruptcy reported.
The Biden administration and Puerto Rico Governor Pedro Pierluisi reached a deal on Wednesday to revamp the U.S. territory’s outdated electric grid and move it towards renewable energy, securing over $12 billion in federal recovery funds, Reuters reported. Three federal agencies — the U.S.