A foreclosure wave is coming.
Schools around the country are beginning to close down for the summer. But in Puerto Rico, many schools, almost 180 of them, will not reopen in the fall. The mass closure comes as the commonwealth faces an ongoing economic crisis and tens of billions of dollars in debt. Click the audio player above to […]
Puerto Rico owes bondholders more than $70 billion, and it’s going to court to try to get its debts rescheduled. On Monday, a stay on lawsuits against Puerto Rico’s government expired, so bondholders sued. The island’s governor announced yesterday it was seeking court protection under Title III of the PROMESA Act, a bill passed last […]
The final game of the World Baseball Classic is tonight, down the road at Dodger Stadium. The United States made the finals for the first time, and it’s playing against a team that’s close to home: Puerto Rico. The Puerto Rican government bought ads to promote tourism during the game. The island could use a […]
On Monday, Puerto Rico's financial oversight board approved a new debt plan.
Puerto Rican voters in Florida, fleeing recession and debt, could be a key demographic this fall.
Stopping the spread of the virus requires funding — something the debt-ridden territory has trouble providing.