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As of 2021 the payment of PREPA's debt remains in an indefinite "limbo" due to a lack of agreement between the government of Puerto Rico and bond holders. PREPA's debt totals over $9 billion and according to David Skeel, the new president of the Financial Oversight and Management Board for Puerto Rico, it will have to be renegotiated in light ...
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 ...
SAN JUAN, Puerto Rico (AP) -- Puerto Rico's troubled power company has been forced to sell bonds again to obtain capital and avoid defaulting on a $415 million debt payment due Wednesday amid a ...
The $1.5 billion contract is valid until March 2024, according to data from the Comptroller’s Office in Puerto Rico. PREPA has alleged that the natural gas company has failed to comply with its ...
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.
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 Puerto Rico Power Authority building located at 1110 Ave Ponce De Leon, San Juan, Puerto Rico, 00907 is named after Antonio Lucchetti. [citation needed] In Arecibo, Puerto Rico, there the "Escuela Superior Vocacional Antonio Luchetti" high school named in his honor. [14] In Yauco there is a 108-hectares man-made lake and dam named after him ...
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 ...