Oct. 7, 2021, 1:23 AM
Puerto Rico’s Senate handed a debt-restructuring invoice late Wednesday that makes the issuance of latest bonds contingent on defending public pensions.
- The amended invoice must get approval from Puerto Rico’s Home of Representatives earlier than it may be signed by Governor
- New bonds are seen as elementary to restructuring some $19 billion in debt and pulling the U.S. commonwealth out of chapter
- The federally-appointed oversight board dealing with the chapter has stated some public pension cuts are crucial, regardless of opposition from lawmakers and Pierluisi
- The Senate invoice additionally ensures that the College of Puerto Rico will obtain $500 …