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Puerto Rico debt-restructuring bill advances amid criticism

OCTOBER 27, 2021 | by Danica Coto | ASSOCIATED PRESS

By Danica Coto, includes “Puerto Rico’s Senate and House approved a bill Tuesday that would slash the central government’s debt by half but has also sparked protests and led to fiery exchanges between lawmakers and a federal control board that oversees the U.S. territory’s finances. The bill aims to end a bankruptcy-like process that began after Puerto Rico announced in 2015 that it could not pay its more than $70 billion public debt accumulated during decades of mismanagement, corruption and excessive borrowing. …”

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