WASHINGTON — A restructuring deal between the deeply indebted Puerto Rico Electric Power Authority and most of its creditors came under scrutiny during a Tuesday oversight hearing here by the House Subcommittee on Energy and Mineral Resources.
The government of Puerto Rico will make most of its $1 billion debt payment due Jan. 1, defaulting only on some $37 million of the amount, Gov. García-Padilla said Wednesday.
Drops in electric power generation, gasoline consumption and cement sales kept Puerto Rico’s economic activity in negative territory in November, according to the Government Development Bank’s Economic Activity Index (GDB-EAI) released Tuesday.