Puerto Rico met its deadline for repaying $354 million in debt, the island’s development bank announced Tuesday, avoiding what some feared would be its first major default. But it was unclear how long the payments would continue or whether the Commonwealth would meet other looming deadlines between now and Jan. 1. The announcement of the repayments came as Gov. Alejandro García Padilla and other officials were testifying before the Senate Judiciary Committee, which is considering whether to give the island bankruptcy protection. The governor reiterated that Puerto Rico had run completely out of cash, and that as of Tuesday it was going to “claw back” certain revenues dedicated to paying debts, and use the money instead to provide government services and service general obligation bonds.
Blogs I Follow
- Recent stories in The New Yorker
- Aldous Harding covers “Right Down The Line” by Gerry Rafferty
- Budget transparency at private universities: Some thoughts about SCU
- Why does SCU want to take the faculty unionization straight to the NLRB? Because they could reverse every unionization on every Jesuit and other “religious” university
- Tactics when confronting a Trump-appointee dominated NLRB: “three would-be unions withdraw petitions”
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