Having already defaulted multiple times over the past several months, the Puerto Rico faces more debt per capita than any U.S. state, according to a commentary on Realclearpolitics.com.
Puerto Rico in Distress
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Just two days before Puerto Rico plans to default on a large debt payment, the Senate yesterday passed and sent to the White House a relief measure to help the financially desperate island surmount its fiscal crisis, the New York Times reported today.
The Senate today is scheduled to vote on a bill already approved by the House that would restructure Puerto Rico’s debts and could create the conditions for recovery, according to a New York Times editorial.
After months of waiting for the U.S. Congress to act as Puerto Rico's economic crisis progressively worsened, the Caribbean island is on the verge of securing a relief plan from Washington, D.C., aimed at helping it address a hobbling $70 billion debt, Reuters reported yesterday.
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This wiki is a repository for members of the U.S. Congress, other policy makers, academics, investors, the media and the general public to understand the challenges facing Puerto Rico in 2016 and to provide data and information to begin crafting long term sustainable solutions. Click here to view.