Former Puerto Rico Gov. Wanda Vázquez Garced was arrested Thursday and charged with participating in a bribery scheme to finance her 2020 gubernatorial campaign, the Justice Department said, the Wall Street Journal reported. Ms.
Puerto Rico in Distress
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Fees and expenses related to the restructuring of Puerto Rico’s debt — exacerbated by natural disasters and the pandemic — are forecast to reach $1.6 billion by fiscal year 2026, cementing the island’s status as the most expensive municipal bankruptcy in U.S. history, Bloomberg News reported.
A coalition of community groups is asking the judge overseeing Puerto Rico’s historic bankruptcy to withhold additional payments to McKinsey & Co. for its work on the island’s debt restructuring, alleging the management-consulting firm has conflicts of interest that it has failed to fully disclose, Bloomberg News reported. In a letter sent this week to U.S.
Hundreds of people marched in Puerto Rico's capital San Juan to demand that the island's government cancel its contract with power grid operator LUMA Energy over chronic power outages and frequent rate hikes, Reuters reported.