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Puerto Rico: No money available to make $58M bond payment
AP News ^ | July 31, 2015 | Danica Coto

Posted on 07/31/2015 8:03:22 PM PDT by OddLane

SAN JUAN, Puerto Rico (AP) — Puerto Rico's government said Friday it would not make a $58 million bond payment due on the weekend and warned that the general fund will run out of liquidity by November if no action is taken.

Gubernatorial Chief of Staff Victor Suarez said at a news conference that the island's Public Finance Corporation could not meet the payment due Saturday.

"We don't have the money," he said, adding that the government still hopes to reach an agreement with creditors on renegotiating its debts. Gov. Alejandro Garcia Padilla warned several weeks ago that the government and state agencies cannot repay the $72 billion in public debt that hangs over the U.S. territory, which is struggling with a nearly decade-long economic slump.

(Excerpt) Read more at apnews.myway.com ...


TOPICS: Government; News/Current Events
KEYWORDS: puertorico

1 posted on 07/31/2015 8:03:22 PM PDT by OddLane
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To: OddLane

They will be begging for statehood soon.


2 posted on 07/31/2015 8:06:55 PM PDT by doc1019 (Blue lives matter)
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To: OddLane

No bailout coming from the White House because they want PR to collapse (and subsequently flood Florida) so they can have more voters.


3 posted on 07/31/2015 8:07:11 PM PDT by Tea Party Terrorist (Why work for a living when you can vote for a living?)
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To: Tea Party Terrorist

...you know, you might be right about that.


4 posted on 07/31/2015 8:11:27 PM PDT by MSF BU (Support the troops: Join Them.)
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To: OddLane

Tap Bammy’s personal $tash.


5 posted on 07/31/2015 8:14:38 PM PDT by Paladin2 (Ive given up on aphostrophys and spell chek on my current device...)
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To: OddLane

you know whats kinda funny 58 million sounds like chump change


6 posted on 07/31/2015 8:49:08 PM PDT by al baby (Hi Mom)
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To: OddLane

Looks like the debt will be restructured, but with a higher interest rate.


7 posted on 07/31/2015 9:06:56 PM PDT by BAW (My eyes are set on 2016.)
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To: OddLane
The ONLY reason folks would loan PR $72 billion is if they were sure USA would bail it out.

Look and there'll be corruption and payola everywhere.

8 posted on 07/31/2015 11:43:29 PM PDT by Mariner (War Criminal #18 - Be The Leaderless Resistance)
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To: OddLane

Another lump of sh## in Americas diaper


9 posted on 08/01/2015 4:10:29 AM PDT by ronnie raygun
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