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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 Puerto Rico bankruptcy cases are consequential not only for people of Puerto Rico, but also for the other citizens of the United States. PROMESA, Feasibility and the Need for a Marshall Plan ...
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
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 ...
A federal judge signed off on a deal that will restructure Puerto Rico's debt. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in ...
Financial Oversight and Management Board for Puerto Rico. Financial Oversight and Management Board for Puerto Rico (FOMBPR), colloquially known as La Junta de Control/Supervisión Fiscal is a government entity whose role to revise and approve the budget and obligations of the government of Puerto Rico was created by federal law PROMESA.
Puerto Rico filed for protection under a bankruptcy-like law, known as Title III, in May 2017. ... The judge overseeing Puerto Rico's nearly five-year-long debt restructuring process has approved ...
Promesa, or variants, may refer to: PROMESA, Puerto Rico Oversight, Management, and Economic Stability Act. Promesa (album), album by Guardian. Promesas, album by José José 1985. La Promesa, album by Justin Quiles 2016. La Promesa Foundation, radio network. "Promesa", a song by Rosalía and Rauw Alejandro from RR.