WASHINGTON — A group of economists meeting in Washington debated Puerto Rico’s fiscal future Wednesday, the day after a deadline for the Commonwealth to negotiate a payment plan with its debtholders expired, and just as Puerto Rico Gov. Ricardo Rosselló filed for a type of bankruptcy protection under PROMESA.
Local and stateside creditors and credit ratings agencies did not reach a true consensus over the government's decision and future effect of seeking the bankruptcy-like protection under Title III of PROMESA on Wednesday to restructure some $70 billion in debt.
The Financial Oversight and Management Board for Puerto Rico on Saturday approved Gov. Ricardo Rosselló’s request to extend the deadline in which to present the administration’s fiscal plan to Feb. 28.
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