Submitted by HannahJubilee on Wed, 10/27/2021 - 16:24
Puerto Rico’s Senate and House passed a deal that settles $35 billion in Puerto Rico debt and will save the island two-thirds in debt payments.
"Puerto Rico voted to end the bankruptcy process that the island has gone through for four years," stated Eric LeCompte, the Executive Director of Jubilee USA Network. LeCompte worked with Puerto Rico religious leaders on solving the island's debt crisis since 2015. "With natural disasters, high child poverty rates and uncertain economic forecasts, we are concerned that Puerto Rico will be able to make the debt payments."