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...

As Puerto Ricans Leave in Record Numbers, Commission Unveils Plan to Overhaul Debt

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)

$129 Billion Puerto Rico Bankruptcy Plan Could Be Model for States

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)

Sanders and Ocasio-Cortez Call for Reversal of Puerto Rico Austerity Measures

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)

Man Who Berated Woman Over Puerto Rico Shirt Is Convicted of Hate Crimes

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)

Small Farmers Are Rebuilding a Self-Sufficient Puerto Rico After Hurricane Maria

“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)

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