Government Development Bank President Melba Acosta said Tuesday the administration “has faith” it will pull Puerto Rico out of the fiscal abyss it is currently in, and will set up mechanism to avoid a repeat of the island’s current $73 billion debt scenario.
The 17th edition of the Puerto Rico International Auto Show kicked off Monday with a display of the latest models from the top automakers, who will be on hand at Plaza Las Américas through Nov. 1 to interact with mall-goers during the highly anticipated event.
Puerto Rico is $73 billion in the hole, a sustained drought recently led to severe water shortages — at one point forcing some San Juan residents to limit their showers to two a week — and potential rival Cuba is about to open up the floodgates to U.S. visitors.
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