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Urgency to Assemble the Board

As García Padilla decrees a default on the constitutional debt, the US capital begins to identify possible candidates to decide Puerto Rico's fiscal

1 de julio de 2016 - 9:54 AM

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This content was published more than 8 years ago.
President of the United States, Barack Obama, signed PROMESA. (AP)
President of the United States, Barack Obama, signed PROMESA. (AP)

While Puerto Rico today becomes the first US state jurisdiction since the Great Depression to default on its constitutional debt, the higher spheres of power in the US capital begin to gather a list of possible candidates to constitute the Oversight Board. This board will seek to reestablish Puerto Rico's budgetary discipline and will give way to a renegotiation process for the Island's debt, if necessary.

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