Puerto Rico Governor Wanda Vazquez, who had said that she was reluctant to take power after her predecessor resigned in disgrace this past summer, yesterday declared her candidacy for the same office in next year’s elections, Reuters reported. Vazquez was sworn in as governor in August when widespread protests led to the resignation of Gov.
Puerto Rico in Distress
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A month after Puerto Rico filed its historic bankruptcy case in 2017, a complaint was filed by a group of hedge funds that had purchased Puerto Rican bonds around 2015 and were concerned that the bankruptcy would prevent them from recouping the bonds’ full value, according to a New York Times analysis.
Puerto Rico’s roads, ports, energy grid and other infrastructure scored an overall D-minus in the first report card issued for the U.S. commonwealth yesterday by an engineering group, which put a price tag of as much as $23 billion over 10 years on needed updates and repairs, Reuters reported.
Puerto Rico would place restrictions on its future debt sales under proposed legislation that won praise yesterday from the bankrupt U.S. commonwealth’s federally created financial oversight board, Reuters reported.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.