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El Senado y la Cámara de Representantes de Puerto Rico aprobaron el martes un proyecto de ley que reduciría por la mitad la deuda del gobierno central,

Blog 53 Wednesday, October 27 2021

Puerto Rico’s Senate and House of Representatives approved a bill on Tuesday that would cut central government debt in half,
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-but which has also sparked protests and sparked heated exchanges between legislators and the federal control board. who oversees the island’s finances.

-The bill seeks to end a process similar to bankruptcy that began after Puerto Rico announced in 2015 that it could not pay its public debt of more than $ 70 billion that the government accumulated after decades of mismanagement, corruption and loans. excessive.

In May 2017, the government filed for the largest municipal bankruptcy in U.S. history. The bill would allow Puerto Rico to cut its debt by more than $ 30 billion, issue new debt worth $ 10 billion, and grant some $ 7 billion in cash to bondholders that have not collected nearly $ 10 billion. five years..

Critics say the government of Puerto Rico does not have the finances to meet the proposed debt service payment and warned of upcoming austerity measures. But the bill – which went through a tight vote of 14 to 13 in the Senate and later from 34 to 12 in the House of Representatives – remains in limbo because it does not have the support of the board, although the governor of Puerto Rico, Pedro Pierluisi, is in favor.

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My 2 cents opinion:
Puerto Rico continues in limbo economics, carrying into future generations the responsibility for paying an unpayable debt due to the island’s limited resources, that shrink every year. The island is being sold slowly to whoever can pay cash, in order to satisfy the debt to the loan owners. Opinión Puerto Rico continúa en el limbo de la economía, llevando a las generaciones futuras la responsabilidad de pagar una deuda impagable debido a los recursos limitados de la isla, que se reducen cada año. La isla se vende lentamente a quien pueda pagar al contado, a fin de saldar la deuda con los prestamistas.


*Read More https://diariodepuertorico.com/2021/10/27/avanza-plan-para-reducir-deuda-de-puerto-rico/