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Puerto Rico: factors contributing to the debt crisis and potential federal actions to address them : report to congressional committees.
- Format:
- Book
- Government document
- Author/Creator:
- United States. Government Accountability Office, author, issuing body.
- Language:
- English
- Subjects (All):
- United States. Puerto Rico Oversight, Management, and Economic Stability Act or PROMESA.
- United States.
- Financial crises--Puerto Rico.
- Financial crises.
- Debts, Public--Puerto Rico.
- Debts, Public.
- Finance, Public--Puerto Rico.
- Finance, Public.
- Economic assistance, American--Puerto Rico.
- Economic assistance, American.
- Puerto Rico.
- Genre:
- Online resources.
- Physical Description:
- 1 online resource (iv, 57 pages) : color illustrations
- Other Title:
- Puerto Rico debt
- Place of Publication:
- [Washington, D.C.] : United States Government Accountability Office, 2018.
- Summary:
- Puerto Rico has roughly $70 billion in outstanding debt and $50 billion in unfunded pension liabilities and since August 2015 has defaulted on over $1.5 billion in debt. The effects of Hurricanes Irma and Maria will further affect Puerto Rico's ability to repay its debt, as well as its economic condition. This report describes the factors that contributed to Puerto Rico's financial condition and levels of debt and federal actions that could address these factors. Consistent with PROMESA, GAO focused on actions that would not increase the federal deficit. GAO is not making recommendations based on the federal actions identified because policymakers would need to consider challenges and tradeoffs related to implementation.
- Contents:
- Background.
- Officials and experts cited various factors as contributing to Puerto Rico's financial condition and levels of debt.
- Actions that could address factors that contributed to Puerto Rico's unsustainable debt levels.
- Agency comments and third party views.
- Appendices.
- Notes:
- "May 2018."
- "GAO-18-387."
- Includes bibliographical references.
- Online resource; title from PDF cover page (GAO, viewed May 18, 2018).
- OCLC:
- 1035768409
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