Puerto Rico’s governor has projected Thursday his bankrupt, hurricane-ravaged U.S. territory will run a budget deficit for the next four fiscal years, requiring new financing while leaving next to nothing to repay the island’s US$72 billion debt until 2022.
The announcement is supposed to justify Rossello’s decision to privatize the power utility, PREPA. Rossello's plan also predicted a minimum of US$35.3 billion in federal aid to help recover from Hurricane Maria that devastated Puerto Rico in September, as “external liquidity support” to maintain basic services.
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