Puerto Rico said one of its agencies didn’t provide funds needed to cover debt payments as the cash-strapped commonwealth reels from an escalating fiscal crisis, Bloomberg News reported yesterday. The Public Finance Corp.
Puerto Rico in Distress
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Puerto Rico’s finance team said yesterday at a meeting of its creditors that it had not yet determined how it would seek to revamp the island’s obligations, the New York Times DealBook blog reported today.
Trump International Golf Club Puerto Rico filed for bankruptcy as Donald Trump, the billionaire real estate mogul who licensed his name to the property, makes a bid for the White House, Bloomberg News reported yesterday.
More than 300 participants ranging from institutional investors to hedge funds to bond insurers are scheduled to attend today’s presentation in New York explaining why Puerto Rico cannot repay all of its obligations on time, Bloomberg News reported yesterday. Complicating matters is a push by commonwealth officials to seek federal assistance and even changes in bankruptcy laws.
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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.