Puerto Rico extends debt restructuring plan deadline

Global Business

Puerto Rico extends debt restructuring plan deadline

Puerto Rico extended the deadline to submit its 72-billion-dollar debt restructuring plan. Government officials are now expected to submit the plan a week from Tuesday.

The massive debt, coupled with the island’s stagnant economy, has sent many Puerto Ricans (especially young people) to the United States in search of better jobs and opportunities.

CCTV’s Nitza Soledad Perez filed this report.

Puerto Rico extends debt restructuring plan deadline

Puerto Rico extends debt restructuring plan deadline

Puerto Rico extended the deadline to submit its 72-billion-dollar debt restructuring plan. Government officials are now expected to submit the plan a week from Tuesday. The massive debt, coupled with the island's stagnant economy, has sent many Puerto Ricans (especially young people) to the United States in search of better jobs and opportunities. CCTV's Nitza Soledad Perez filed this report.

More details:

  • Puerto Rico’s population has been declining for nearly decade because many of its young people are leaving to find better jobs.
  • U.S. Census bureau data shows that close to 150,000 Puerto Ricans moved into the United States from 2010 to 2013. For the first time in decades Puerto Ricans in the United States outnumber those who live on this beautiful, but financially-troubled island.