Come January, when the new administration headed by Gov.-elect Alejandro García-Padilla takes over the reins of the government, it will have 90 days or so to present stateside credit agencies a “viable and concrete” plan outlining its strategy to tackle Puerto Rico’s fiscal problems, executives from the Center for the New Economy said Tuesday.
The lack of seriousness and responsibility reflected by the comments made by the president of the Government Development Bank of Puerto Rico are truly disturbing.
The Puerto Rico Public Finance Corporation placed and sold $410 million in bonds in the local market, the proceeds of which the agency will use to refinance existing debt and save $6.6 million in interest payments.