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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 ...
The S&P Municipal Bond Puerto Rico Index has experienced a 26.41% bond performance uptick thus far this year, giving investors with an appetite for high yields food for thought when looking for ...
This factor, along with many others, led Puerto Rico to issue bonds up to today's outstanding debt of US$71 billion—an amount approximately equal to about 68% of Puerto Rico's gross domestic product (GDP). These actions, along with a series of negative cash flows and a depression, ultimately led to Puerto Rico's government-debt crisis.
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 ...
More than $6 billion of bonds Puerto Rico issued in 2012 and 2014 had been targeted by the board for allegedly being issued in violation of a debt limit in the Caribbean island's constitution. As ...
The Government Development Bank for Puerto Rico (GDB) — Spanish: Banco Gubernamental de Fomento para Puerto Rico (BGF)— is the government bond issuer, intragovernmental bank, fiscal agent, and financial advisor of the government of Puerto Rico. [1][2] The bank, along with its subsidiaries and affiliates, serves as the principal entity ...
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It was published weekly in English, and its in-depth news and analysis was read by people in the White House, the U.S. Congress, Wall Street, by Puerto Rico bond investors, the parent companies and suppliers of companies in Puerto Rico and many others. Daily business news was provided on its website, CB.pr, where it attracted more than 153,000 ...