January 26, 2018 / 12:22 AM / a month ago

Puerto Rico, creditors spar over revised fiscal plan

Puerto Rico’s federal oversight board argued in court papers against a bid by creditors to delve into deliberations regarding a revised turnaround plan, which was unveiled on Thursday by the governor of the financially stricken island.

The plan by Governor Ricardo Rossello projects the U.S. territory in the aftermath of Hurricane Maria will face budget shortfalls that will prevent it from repaying any of its $72 billion in debt until fiscal year 2022.

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