Tag Archives: rico

“Magnitude 5.9 shock again rocks quake-stunned Puerto Rico”

“A magnitude 5.9 quake shook Puerto Rico on Saturday, causing millions of dollars of damage along the island’s southern coast, where previous recent quakes have toppled homes and schools… Gov. Wanda Vazquez estimated damage from Tuesday’s earthquake at $110 million, … Continue reading

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“Puerto Rico slowly brings back electricity after powerful earthquake”

“Puerto Rico’s power grid crept back to service on Wednesday after it was shut down entirely as a safety measure on Tuesday amid a storm of earthquakes including the most powerful to strike the Caribbean island in 102 years… Nearly … Continue reading

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“Report: Puerto Rico’s infrastructure failing…”

“More than two years after hurricanes Irma and Maria devastated Puerto Rico, the island’s bridges, dams, drinking water, ports, roads and power grids are at a breaking point — and the federal dollars to fix that infrastructure remains out of reach. … Continue reading

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“Puerto Rico warns island on brink of ‘massive liquidity crisis'”

“…”In addition to the physical destruction [due to the hurricane], Puerto Rico’s economy has ground to a near standstill,” Rossello wrote in a letter reported by CNN. He added that “very few businesses” are operating. “Financial damages of this magnitude … Continue reading

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“Puerto Rico has filed for bankruptcy.”

“It’s the biggest municipal bankruptcy filing ever in the US. Puerto Rico currently owes its creditors a whopping $70 billion, far higher than Detroit’s $18 billion bankruptcy in 2013. “Given the deficit that we have inherited, it is my responsibility … Continue reading

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“Puerto Rico’s Debt Crisis Deepens as Government Misses Payment”

“Puerto Rico’s debt crisis moved into a more perilous phase for residents, lawmakers and bondholders Monday after the Government Development Bank failed to repay almost $400 million…. foreshadowing additional defaults this summer…” http://www.wsj.com/articles/puerto-ricos-debt-crisis-turns-up-the-heat-on-congress-1462219483

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“Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle”

“Last week, we brought you the latest from Puerto Rico’s debt debacle. The commonwealth is desperately trying to restructure some $72 billion in debt while staring down a $354 million bond payment due on December 1.  As we discussed at … Continue reading

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