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EDITORIAL: PROMESA law is effective but can be improved

Title III of the law, offers an equivalent mechanism of a federal bankruptcy to clarify the differences between the government and the bondholders, with protective measures for both sides

30 de junio de 2017 - 8:17 AM

Archival note
This content was published more than 7 years ago.
PROMESA transmits creditors a message of clear support from the Congress to its operational arm, the Oversight Board. (Archivo / GFR Media)
PROMESA transmits creditors a message of clear support from the Congress to its operational arm, the Oversight Board. (Archivo / GFR Media)

A year after its approval, the PROMESA federal law has shown that, even with its ups and downs, IT provides the most effective mechanisms at hand to deal with the fiscal crisis and to promote an organized debt restructuring.

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