Puerto Rico Gov. Projects No Payment on Island’s Debt Until 2022 - NBC10 Boston
Puerto Rico Recovers After Maria

Puerto Rico Recovers After Maria

Complete coverage of relief and recovery efforts in Puerto Rico, following Hurricane Maria

Puerto Rico Gov. Projects No Payment on Island’s Debt Until 2022

The plan projects Hurricane Maria will spur increased inflation and nearly triple a contraction in gross national product this fiscal year

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    President Trump Tours Hurricane-Damaged Puerto Rico

    President Donald Trump visited Puerto Rico on Oct. 3, with first lady Melania Trump. Trump met with local victims of Hurricane Maria and praised the work of Puerto Rico Governor Ricardo Rosselló.

    (Published Tuesday, Oct. 3, 2017)

    Puerto Rico Gov. Ricardo Rossello projected Thursday that his bankrupt, hurricane-ravaged territory will carry budget gaps for the next four fiscal years, leaving nothing to pay back its $72 billion in bond debt until 2022 Reuters reported.

    Rosello released the projections Thursday in a revised fiscal turnaround plan, which assumes a minimum of $35.3 billion in federal aid through the U.S. Federal Emergency Management Agency's public assistance program. The money would help the island recover from Hurricane Maria.

    A previous plan projected $800 million a year for debt repayment, about a quarter of what it needs annually. That was before Maria killed dozens of people, cut power to millions of residents and damaged properties.

    The new plan projects Maria will spur increased inflation and nearly triple a contraction in gross national product this fiscal year, as well as drive some 600,000 more people from the island in the next five years.

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    (Published Saturday, Feb. 17, 2018)