Board to Decide Puerto Rico’s Financial Future; Fed Rate Boost Is on Way
ByHere’s a look at what’s coming up this week.
ECONOMY
Island’s revised debt plan faces federal scrutiny.
The federal board overseeing Puerto Rico’s finances will meet in New York on Monday, when it must decide on a plan for ending the island’s chronic deficits. Puerto Rico hopes to restructure more than $110 billion of debt and pension obligations, but it must first produce a credible fiscal plan. Last week, the board told Gov. Ricardo A. Rosselló that his plan was unrealistic and asked him to make revisions. If there is no agreement by Monday, the board can impose its own fiscal plan over the governor’s objections, something that would anger the many Puerto Ricans who believe their democratic rights are being trampled. Mary Williams Walsh…
Board to Decide Puerto Rico’s Financial Future; Fed Rate Boost Is on Way
