Puerto Rico dug the hole, and only she can climb her way out

posted by
January 26, 2016
The Canal
by Frank Worley-Lopez  
Posted in Commentary

"Puerto Rico received three stark reminders of its current situation in the last few weeks, and these incidents foretell a very long road to recovery for the US commonwealth. In early January, the island territory defaulted once again on some of its debt. While it paid most of its debt, the small portion left unpaid was enough to generate more lawsuits, which will add to its operating costs for the next year, and more importantly, to its costs leading up to its next major debt payments in late spring and early summer. Meanwhile, major debt restructuring talks between the state-owned Electric Power Authority collapsed after 18 months and multiple extensions." (01/25/16)


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