Contrary to what the government has been asserting over the past few months, the proposed budget for Fiscal 2015 will not be a balanced one because it is not factoring in sufficient appropriations to cover bond interest payments due, the Center for a New Economy said Wednesday.
The mess that the Puerto Rico Electric Power Authority is submerged has gotten out of control, and so has the and public discourse that tends to further confuse people complicating an issue that has some clear immediate remedies.
In early April, the government of Puerto Rico disclosed the hiring of a New York law firm that has handled more than 30 sovereign debt restructurings, including those of Greece, Argentina, Iraq and Russia.