Puerto Rico to Seek Bankruptcy Protection

HeadlineMay 04, 2017
H08 puerto rico

Puerto Rico filed for a form of bankruptcy protection on Wednesday, seeking to restructure $123 billion in debt and pension obligations, in a move that’s likely to slash money for healthcare, pensions and infrastructure on the island territory. Years of austerity programs aimed at paying back the debt has left Puerto Rico’s official unemployment rate at nearly 12 percent, with nearly half of all Puerto Ricans living in poverty. The U.S. Supreme Court will now designate a bankruptcy judge to handle the case.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Up arrowTop