The Fiscal Board claims that there will not be a balanced budget this year if it pays for the losses suffered by cooperatives with Puerto Rico’s bonds
The Fiscal Board claims that there will not be a balanced budget this year if it pays for the losses suffered by cooperatives with Puerto Rico’s bonds
July 4, 2024 - 5:41 PM
The government did not comply with what would be the second balanced budget submitted to the Financial Oversight and Management Board (FOMB), among other things, because it included amid its expenses the bill that would create a mitigation plan for the cooperatives to recover some $400 million for the losses the sector experienced with the Puerto Rico bonds.
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