Back

Latin American Economy & Business - July 2015 (ISSN 1741-7430)

Puerto Rico: Debt negotiations get under way

On 29 June 2015, the governor of Puerto Rico, Alejandro García Padilla, announced the formation of a Working Group that will seek a final and sustainable solution to the territory’s well-publicised financial problems by the end of August. Discussions between the government and bondholders of in coming weeks will focus on four issues: government revenues, government expenses, structural reforms and a major debt restructuring. Among much else, the government will be seeking changes to the US Bankruptcy Code that will allow it to seek Chapter 9 protection – like municipalities in the US.

End of preview - This article contains approximately 2854 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.