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Puerto Rico has a new rescue plan

Mar. 14, 2017 3:59 AM ETBy: Yoel Minkoff, SA News Editor1 Comment
  • Puerto Rico's federal oversight board has certified the government's fiscal turnaround plan, on condition it be amended to eliminate Christmas bonuses, impose employee furloughs and further reduce pension spending.
  • The agreement will serve as the baseline for the island's looming restructuring talks with creditors, who hold more than $70B of defaulted debt.

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