Puerto Rico Officials to Testify on Debt Crisis Before Senate Panel
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Puerto Rico’s Governor Alejandro Garcia Padilla in his office at La Fortaleza Palace in San Juan. CreditDennis M. Rivera-Pichardo for The New York Times
Puerto Rican officials will appear before a skeptical United States Senate panel on Tuesday to explain why the island may need federal assistance by the end of the year and how lawmakers preoccupied with the federal debt might help without setting an unwelcome precedent.
Officials on the island recently warned that their government would, in effect, run out of cash in November, even though it owes big payments to creditors in December and early January.
Puerto Rico has not issued audited financial statements for the last two years, and some members of the Senate Finance Committee say that before the federal government commits funds to help tide it over its crisis, they need to know more about the federal money the island has already received and how it was used…
Puerto Rico Officials to Testify on Debt Crisis Before Senate Panel
