Post by Logan on May 3, 2017 21:02:50 GMT -6
After nearly two years of missed payments and delayed actions, Puerto Rico is bumping up against another deadline as it tries to grapple with tens of billions of dollars of debt.
One proposal for partial repayment of the debt was rejected over the weekend. Another option is for the island to essentially declare bankruptcy, through a process created specifically for Puerto Rico.
After midnight on Monday, if some sort of deal has not been struck, the U.S. territory will be fair game for lawsuits by its creditors.
Meanwhile, thousands of protesters marched in San Juan on Monday, in May Day protests fueled by anger over the out-of-control-debt and resulting cuts in services.
Read more: www.npr.org/sections/thetwo-way/2017/05/01/526426865/puerto-rico-eyes-options-as-it-faces-debt-deadline-again
One proposal for partial repayment of the debt was rejected over the weekend. Another option is for the island to essentially declare bankruptcy, through a process created specifically for Puerto Rico.
After midnight on Monday, if some sort of deal has not been struck, the U.S. territory will be fair game for lawsuits by its creditors.
Meanwhile, thousands of protesters marched in San Juan on Monday, in May Day protests fueled by anger over the out-of-control-debt and resulting cuts in services.
Read more: www.npr.org/sections/thetwo-way/2017/05/01/526426865/puerto-rico-eyes-options-as-it-faces-debt-deadline-again