Puerto Rico austerity plan faces hurdles
Six months after Hurricane Maria, Puerto Rico’s governor is pushing an austerity plan he hopes will turn things around in the bankrupt U.S. commonwealth. He reckons the plan would allow the bankrupt U.S. commonwealth to pay back half of the principal on its debt — which includes more than $70 billion in bond debt and $50 billion in pension liabilities. But the cuts could be painful.
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