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The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. [a] The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt. The downgrades, in turn, prevented the ...
History. In May 2007, local economists expressed serious concerns when it was revealed that the Puerto Rico public debt equaled to 76% of its gross national product (GNP), making it one of the most indebted countries by percentage in the world, even more than the United States. [2] During the fiscal years 2016-2017 debt rose from 93% to 95% of ...
The government of Puerto Rico and a federal oversight board have agreed on a debt-restructuring plan to end the U.S. territory's bankruptcy, if it is approved ...
SAN JUAN, Puerto Rico (AP) — A federal judge on Tuesday tentatively approved a portion of the newest plan to restructure $10 billion of debt owed by Puerto Rico’s power company amid heated ...
A federal judge overseeing a drawn-out debt-restructuring process for Puerto Rico’s power company ordered all parties to mediation on Wednesday in the latest attempt to break an impasse that has ...
The government of the Commonwealth of Puerto Rico is a republican democracy established by the Constitution of Puerto Rico in 1952. Under a system of separation of powers, the government is divided among three branches: the executive, the legislative, and the judicial. As a territory of the United States, the government of Puerto Rico is under ...
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Internet TLD. .pr. Puerto Rico[ i ] (Spanish for 'rich port'; abbreviated PR), [ 21 ] officially the Commonwealth of Puerto Rico, [ b ][ j ] is a self-governing Caribbean archipelago and island organized as an unincorporated territory of the United States under the designation of commonwealth.