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Tuesday, June 30, 2015

Governor Creates Debt Work Group

From News Is My Business:

Puerto Rico Gov. Alejandro García-Padilla announced Monday a multi-pronged
plan to address the island’s fiscal crisis to work with creditors on restructuring
what he described as the “unpayable” $73 billion debt.

During a televised speech, García-Padilla said a group — comprised of Chief
of  Staff Víctor Suárez, Government Development Bank President Melba A-
costa, Justice Secretary César Miranda, Senate President Eduardo Bhatia and
House Speaker Jaime Perelló — will be tasked with striking up “conversations
to achieve, with transparency and consensus, the restructuring of our public

“The ultimate goal is a negotiated agreement with bondholders for a deferrment
of payments on the debt for a number of years so that the money can be invested
here in Puerto Rico,” he said...[CONTINUE READING]

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