Arab Today, arab today us supreme court to hear puerto rico debt appeal case
Last Updated : GMT 13:23:05
Arab Today, arab today
Arab Today, arab today

US Supreme Court to hear Puerto Rico debt appeal case

Arab Today, arab today

Arab Today, arab today US Supreme Court to hear Puerto Rico debt appeal case

The Supreme Court will likely review the case sometime
Washington - AFP

The US Supreme Court agreed to consider Puerto Rico's appeal of a ruling forbidding its use of a US law that would allow it to declare bankruptcy and restructure its crushing debt.

Puerto Rico -- a US possession in the Caribbean since 1898 -- is attempting to restructure much of its $72 billion of debt.

Officials in San Juan have made clear that it might miss debt payments in the next month without some relief from creditors and legislative support.

The Supreme Court will likely review the case sometime during the first three months of 2016.

Governor Alejandro Garcia Padilla recently told a Senate panel that Puerto Rico's situation is hampered by creditors that refuse to reschedule its debt, and by US laws that prohibit the territory from entering bankruptcy protection.

The 3.5 million island residents are US citizens, but since the island is not a state, they do not have a voting representative in the US Congress.

Puerto Rico's finances were dealt a crippling blow in 2006 with the loss of federal tax breaks for US companies with local operations.

It has been in and out of recession in the years since. As economic activity shrank, the government papered over budget shortfalls with fresh borrowing.

Today, its debt stands at around $72 billion (64 billion euros), and the White House has ruled out a financial bailout for the former Spanish colony.

Currently, only US cities can legally go into what is known as Chapter 9 bankruptcy protection. Detroit took this drastic measure during the depths of an economic crisis in 2013.

Puerto Rico officials on Tuesday made a $354 million bond payment after threatening for days to default.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us supreme court to hear puerto rico debt appeal case Arab Today, arab today us supreme court to hear puerto rico debt appeal case

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us supreme court to hear puerto rico debt appeal case Arab Today, arab today us supreme court to hear puerto rico debt appeal case

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran blocks all Iraqi Kurdistan flights

GMT 13:07 2017 Monday ,25 September

Iran blocks all Iraqi Kurdistan flights
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday