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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
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 ...
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 ...
Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay ...
In 2022, the United States House of Representatives passed the Puerto Rico Status Act. [2] In August 2024, the Puerto Rico Supreme Court dismissed the July 2024 petition by the Puerto Rican Independence Party (PIP) asking the State Election Commission (CEE) to halt the status plebiscite. [3][4]
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 judge overseeing Puerto Rico's nearly five-year-long debt restructuring process has approved a debt adjustment plan that is intended to revitalize the commonwealth's economy and reduce its ...
The United States District Court for the District of Puerto Rico (in case citations, D.P.R.; Spanish: Tribunal del Distrito de Puerto Rico) is the federal district court whose jurisdiction comprises the Commonwealth of Puerto Rico. The court is based in San Juan. The main building is the Clemente Ruiz Nazario United States Courthouse located in ...