Search results
Results From The WOW.Com Content Network
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 ...
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 ...
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 ...
The plan filed by a federal control board that oversees the U.S. territory’s finances would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion.
SAN JUAN, Puerto Rico (AP) — The federal government shutdown could delay the outcome of a major debt restructuring case in Puerto Rico, leaving many in suspense after a long-awaited hearing on ...
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
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 ...