Puerto Rico facing historic default on its $72 billion debt

0
737

CIyE_gzWIAAkv1O

By  Alan Gomez

Puerto Rico is just days away from a historic economic collapse after the commonwealth’s governor said the island cannot pay its $72 billion in debts.
Gov. Alejandro García Padilla, who took office two years ago, told Puerto Ricans during a televised address Monday that his government’s attempts to slash expenditures and restructure its debt have failed. He said an analysis by former World Bank and International Monetary Fund officials showed the “harsh reality” of the economic situation.
“Our public debt…is unpayable,” he said. “The report states even if we increased taxes and cut back spending, the magnitude of the problem is such, because of the weight of the debt we carry, that it would solve nothing.”
“Read the Full Article at www.usatoday.com >>>>”

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleMaine veterans struggle using plan to cut long waits for care
Next articleFree American: Secret Docs Show Monsanto Knew About Link To Cancer