A team of federal officials representing several agencies will come to Puerto Rico next month to help the local government navigate through the economic crisis, prompting more rumblings of the possibility of a receivership for the island.
Puerto Rico Government Development Bank President Javier Ferrer told lawmakers Tuesday that without the necessary measures, the institution he heads will not have the capacity to float petitions by public corporations by summer.
Puerto Rico needs to find alternative ways to govern itself that include all members of society with the single-minded goal of seeking solutions to its overwhelming fiscal and social problems, or risk going down the same path as Detroit, once a thriving city that is now desolate and in a state of emergency.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
