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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    'Hanging on the Cliff': Puerto Rico to Default on $422 Million Debt Payment

    Lobo
    Lobo
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    Join date : 2013-01-12

    'Hanging on the Cliff': Puerto Rico to Default on $422 Million Debt Payment Empty 'Hanging on the Cliff': Puerto Rico to Default on $422 Million Debt Payment

    Post by Lobo Mon 02 May 2016, 3:11 pm

    'Hanging on the Cliff': Puerto Rico to Default on $422 Million Debt Payment
    by Gabe Gutierrez and Alex Johnson



    SAN JUAN, Puerto Rico — Crushed by rampant joblessness and poverty and hemorrhaging educated residents, Puerto Rico will default on $422 million in debt payments due Monday, Gov. Alejandro García Padilla said Sunday.
    And things could get even worse in a couple of months, when another payment of more than $700 million is due in July, Treasury Secretary Juan Zaragoza warned.
    García said in a televised address that the failure of negotiations to reach a last-minute deal to avoid a third default forced his hand.

    "The decision not to pay has been a very difficult one, and one that frankly I would rather not take," García said. But "faced with the lack of liquidity to meet both the needs of our creditors and to provide services to our people, I had to choose. And I chose."
    'Hanging on the Cliff': Puerto Rico to Default on $422 Million Debt Payment Transparent-placeholder
    Puerto Ricans march Sunday to reject the proposal of a fiscal control board as a measure to solve the fiscal crisis on the island during International Worker's Day in San Juan. Thais Llorca / EPA

    The government had been negotiating with creditors through the weekend. They managed to reach a deal to postpone some of the payments, but García said they couldn't go any further without threatening basic necessities for people who live in Puerto Rico, including health care.
    The territory of 3.5 million U.S. citizens has been losing white-collar and middle-class professionals at an alarming rate. Unemployment tops 12.5 percent, and doctors have been leaving the island at the rate of one a day.
    "It's basically tearing me apart," said one of those doctors, Yolanda Pagan of San Juan.
    "It's such a pretty, wonderful treasure here in the Caribbean," Pagan told NBC News. "It's just gorgeous, and it's so sick right now."
    Dr. Jaime Rivera, president of the Puerto Rico Hospital Association, said health care in the territory is in "crisis."
    "It's gotten really difficult at this moment," Rivera told NBC News. "I think we're hanging on the cliff already."
    http://creditrating.einnews.com/article/324235701/Z4a6kKdQfv72hJZ_

      Current date/time is Sun 04 Jun 2023, 9:52 pm