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
- Pamela Roberts et Ezechiel Lopemba de SIL en visite à FAVL-BF
- Someday you might like this song by Jason Molina, Farewell Transmission, but don’t go down his dark path no no
- Why did the South support the Federal income tax and the 16th amendment? because they understood the Progressive movement all too well
- Who I Am & Why I Am Where I Am by Kaitlyn Aurelia Smith
- Kathryn Schulz in The New Yorker, on WIlliam Kelley, a fantastic short essay
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