US President Barack Obama signed the deal that will give Puerto Rico access to bankruptcy-like measures without an injection of US Federal funds. The bill allows Puerto Rico to restructure its debt within the US federal court system, a provision that had been keenly sought by the Obama administration. <\/p>\n
The economic break for Puerto Rico comes as good news for the Dominican Republic. What is good for Puerto Rico is good for the DR. A large Dominican population lives in Puerto Rico and Puerto Rico is a traditional trade and travel source. <\/p>\n
PBS called the strong bipartisan support the bill received in the US Congress “a rare election-year feat.” The Senate voted 68-30 for the legislation on Wednesday, 29 June 2016, three weeks after the House had approved the measure. <\/p>\n
The bill is expected to help pave the way for economic recovery in Puerto Rico that is enduring a decade-long recession and has accumulated a staggering US$70 billion in debt. <\/p>\n
http:\/\/www.pbs.org\/newshour\/rundown\/obama-vows-to-move-quickly-to-sign-puerto-rico-bill\/<\/p>\n","protected":false},"excerpt":{"rendered":"
US President Barack Obama signed the deal that will give Puerto Rico access to bankruptcy-like measures without an injection of US Federal funds. The bill allows Puerto Rico to restructure its debt within the US federal court system, a provision that had been keenly sought by the Obama administration. The economic break for Puerto Rico … <\/p>\n