Puerto Rico oversight board's success may hinge on the ballot box
A forthcoming financial turnaround plan for Puerto Rico, which the territory's oversight board wants on its desk in nine days, will probably change after the island's November election. For the board, it could be a welcome scenario.
The bi-partisan board, created by the Puerto Rico rescue law known as PROMESA, set Oct. 14 as a deadline for the territory's governor Alejandro Garcia Padilla to deliver a draft plan for how to boost island revenues and tackle its $70 billion (54.98 billion pounds) debt.
Garcia Padilla has unsettled Puerto Rico's creditors by insisting on deep debt cuts and... read more
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