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Kirk510620 : puertorico   22

Puerto Rico after the storm: an island on the edge
the hurricane, Puerto Rico had a massive and unsustainable debt overhang and was a strong candidate for a 70 or 80 per cent debt write-off,” says Lawrence Summers, former US Treasury secretary. “Public rebuilding after the hurricane will be in the same general range of its indebtedness. If the right thing before was an 80 per cent debt write-off, it’s hard to say that’s not 100 per cent today.”

The storm could force Washington’s hand, with policymakers travelling to San Juan and beyond to see the damage and offer support. The Rosselló administration is expected to leverage that goodwill as it lobbies for an aid package, with one congressional aide saying a first tranche covering the financial costs of all three recent storms, Harvey, Irma and Maria, could add up to $29bn.
PuertoRico  naturaldisasters  ft  spending  debt  Congress115  DonaldTrump 
november 2017 by Kirk510620

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