The Traderszone Network

Published in TZ Latest News 8 May, 2015 by The TZ Newswire Staff

Puerto Rico may run out of cash by end of Sept -development bank

Puerto Rico is set to run out of cash by the end of September without additional financing, and may implement emergency measures, including defaulting on its debt obligations, according to a report by the U.S. territory’s fiscal agent. The measures could include steps to cut government spending and a “moratorium on the payment of debt service” and “a debt adjustment for the Commonwealth,” the island’s Government Development Bank said in a report published late Thursday.