I am a puertorican and this look ugly. I hope that with the new law to use medical cannabis for patience could help us a lot with employement and change the way of thinking.
I know Puerto Rico will get up of this one and come more powerfull then ever, if there comes some USA investor they can create a lot of opportunities for puertoricans with a 14% of unemployment maybe some investor can bring work to here and make everybody have jobs and be happy with their lives.
Puertorrican are trying to live a rich lifestyle with a $7.25 minimun wage. Its insane to live by that minimun wage with a 11.5% on ivu
Conclusion Puerto Rico its fucked up but will get up from this in less than 10 years
Topic: Puerto Rico Bankruptcy - page 2. (Read 1474 times)
Since there are a lot of topics on Greek Bankruptcy, it does seem fair to at least have one for Puerto Rico as it is passing under the radar, even the USA has been mentioning how Greece won't really impact them but have failed to mention Puerto Rico.
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’
http://www.usnews.com/news/business/articles/2015/06/30/puerto-rico-wants-bondholders-to-postpone-debt-payments
http://www.nytimes.com/2015/06/29/business/dealbook/puerto-ricos-governor-says-islands-debts-are-not-payable.html
Puerto Rico’s governor, saying he needs to pull the island out of a “death spiral,” has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.
The governor, Alejandro García Padilla, and senior members of his staff said in an interview last week that they would probably seek significant concessions from as many as all of the island’s creditors, which could include deferring some debt payments for as long as five years or extending the timetable for repayment.
“The debt is not payable,” Mr. García Padilla said. “There is no other option. I would love to have an easier option. This is not politics, this is math.”
A broad restructuring by Puerto Rico sets the stage for an unprecedented test of the United States municipal bond market, which cities and states rely on to pay for their most basic needs, like road construction and public hospitals.
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If Puerto Rico were considered a developing country, it would be the eighth most heavily indebted country in the world.
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’
http://www.usnews.com/news/business/articles/2015/06/30/puerto-rico-wants-bondholders-to-postpone-debt-payments
http://www.nytimes.com/2015/06/29/business/dealbook/puerto-ricos-governor-says-islands-debts-are-not-payable.html
Puerto Rico’s governor, saying he needs to pull the island out of a “death spiral,” has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.
The governor, Alejandro García Padilla, and senior members of his staff said in an interview last week that they would probably seek significant concessions from as many as all of the island’s creditors, which could include deferring some debt payments for as long as five years or extending the timetable for repayment.
“The debt is not payable,” Mr. García Padilla said. “There is no other option. I would love to have an easier option. This is not politics, this is math.”
A broad restructuring by Puerto Rico sets the stage for an unprecedented test of the United States municipal bond market, which cities and states rely on to pay for their most basic needs, like road construction and public hospitals.
---
If Puerto Rico were considered a developing country, it would be the eighth most heavily indebted country in the world.
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