03 May 2016, Annie Tsoneva, EMIS Editor
Puerto Rico faces default
Puerto Rico has incurred more than $70 billion in debt after years of borrowing.
However, without certain legislative amendments Puerto Rico can’t declare bankruptcy. Some changes to create a tough financial control board and to oversee court-supervised restructuring of the island's debt would be passed by the lower chamber by July 1, US congressman and House Majority Leader Kevin McCarthy said last week.
Meanwhile, one million “NYC Condoms" will be granted to Puerto Rico as the island registered one death from the zika virus. So far, there are 570 locally transmitted cases of the zika virus on the island, which the highest number than anywhere in the US, and the outbreak is to get worse.
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