The Commonwealth of Puerto Rico defaulted on $312 million in principal and interest due Feb. 1st by four credit-issuing entities, including constitutionally protected General Obligation bonds, the government confirmed Wednesday.
The United Nations Independent Expert on foreign debt and human rights has called for fair solutions to the huge debt crisis in Puerto Rico, warning that ratcheting up austerity measures will threaten residents’ human rights and worsen the U.S. territory’s “intolerable” poverty levels.
The new administration under Puerto Rico Gov. Ricardo Rosselló on Wednesday released a Request for Qualifications (RFQ), seeking a new strategic advisor and legal counsel to move ahead with restructuring the Commonwealth’s $68 billion debt.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
