Puerto Rico's Financial Board Has a Plan to Overhaul its Debt
Issue #52: Sanders and Ocasio-Cortez call to reduce austerity measures, small farmers are rebuilding and more...
|Bianca||Sep 30, 2019|
Puerto Rico’s Financial Oversight and Management Board has announced a plan to restructure the island’s debt. The plan would reduce the debt, but it will mean reducing pensions for retirees and asking bondholders to take discounts. (Jim Wyss / Miami Herald)
Puerto Rico’s plan to reduce its debt could be used as a framework for states struggling with their own financial problems, including Illinois and New Jersey. (Mary Williams Walsh and Karl Russell / New York Times)
Thirteen members of Congress, including Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez, sent a letter to the PROMESA board demanding that Puerto Rico no longer be treated as a colony and that hte board “reverse the crippling austerity” measurements imposed on the territory. Read the full letter at the link. (Kate Aronoff and Alleen Brown / The Intercept)
The man, who was filmed on video berating a woman wearing a Puerto Rican flag shirt in a public Chicago park, has been convicted of two felonies. (Aimee Ortiz / New York Times)
“Every time I plant a seed, it’s a rebellious step. It’s my way of really going against a broken system.” Watch the video at the link. (Vox)