Tag Archives: Government Development Bank

Oversight Board proposes adjustments and consolidation for Cossec

The Puerto Rico government forced the cooperativos, aka credit unions, to buy Puerto Rican bonds, which are now considered junk. Sounds like if the cooperativos had to mark these assets to market, many would be insolvent. So the regulator is … Continue reading

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Carlos García refutes detractors 6-9-17 El Nuevo Dia

https://www.elnuevodia.com/english/english/nota/carlosgarciarefutesdetractors-2329451 Carlos García refutes detractors He says that Puerto Rico is under control of the federal entity because of the lack of fiscal discipline Friday, June 9, 2017 – 9:06 AM By Joanisabel González Carlos García refutes detractors (horizontal-x3) According … Continue reading

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Puerto Rico’s bankruptcy leaves US island facing hard times

https://www.yahoo.com/news/puerto-ricos-bankruptcy-leaves-us-island-facing-hard-020039188.html Puerto Rico’s bankruptcy leaves US island facing hard times Elodie CUZIN AFPJune 6, 2017 View photos People walk past murals protesting the state of the economy in San Juan, Puerto Rico, as the former Spanish colony of 3.5 million, … Continue reading

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