The losses from soured investments in Puerto Rico bonds are coming into focus for some of the world’s biggest mutual funds, and it is a brutal reckoning, the Wall Street Journal reported yesterday.
Puerto Rico in Distress
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Puerto Rico’s creditors are preparing for a lengthy fight to maximize their recoveries after its slide into bankruptcy, but other Wall Street investors are rooting for the U.S. territory to succeed in driving down its $73 billion debt load, The Wall Street Journal reported yesterday.
Puerto Rico's benchmark general obligation (GO) debt price fell to a record low in light trading as the prospect of a drawn-out restructuring of the island's $70 billion debt load spurred selling, Reuters reported yesterday.
There has been an exodus of families from Puerto Rico in the face of its economic collapse, so Luis Santaella School has a big problem: Only 146 children are enrolled compared with about 250 in the past, The New York Times reported today.
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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.