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prima:Central government to lend PREPA $300 million for pensions

The utility retirement system, which is expected to be frozen soon, is dealing with an employer debt of nearly $1,000 million

November 13, 2023 - 5:01 PM

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This content was published more than 1 year ago.
The PREPA Retirement System disburses pensions to more than 9,000 retirees. (Suministrada)

The Oversight Board decided that the Puerto Rico Electric Power Authority (PREPA) will receive a $300 million loan from the central government to meet its pension obligations, which would be enough to guarantee payments to retirees for about 10 months.

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