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Federal Reserve doesn't think taking on new debt would be good for Puerto Rico

The U.S. Central Bank does not include the island in its coronavirus-related loans

15 de mayo de 2020 - 10:05 AM

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This content was published more than 4 years ago.
Federal Reserve Oversight Vice President Randal Quarles. (AP)
Federal Reserve Oversight Vice President Randal Quarles. (AP)

Washington - Despite the worsening fiscal crisis, a senior Federal Reserve official said yesterday that including Puerto Rico in the U.S. Central Bank's coronavirus emergency loan program is not a good idea given the island's public debt levels and PROMESA Act.

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