Apr
27
Cash Shortage Seen in Puerto Rico in 3 Months
By
uerto Rico is struggling with more than $70 billion in debt and a sluggish economy.CreditDennis Rivera for The New York Times
Three months.
That is how long the Puerto Rico government has before it could run out of money, according to the island’s top finance officials.
The warning came in an unusual letter to the commonwealth’s governor and the heads of the House and Senate from the Government Development Bank, which oversees all of Puerto Rico’s debt deals.
The letter, which was sent this week, was meant to underscore the need for Puerto Rico lawmakers to act quickly to address the island’s fiscal problems, officials said…
Cash Shortage Seen in Puerto Rico in 3 Months
