Articles written by Richard Lawless

Richard Lawless, Retired|Jun 11, 2016

Puerto Rico has more than $70 billion of outstanding debt, with a debt-to-GDP ratio of about 68%. In February 2014, various American credit rating agencies downgraded the government's debt to non-investment grade. This has created a crisis for the Island, a US Commonwealth. The crisis has forced Puerto Rico's government to adopt policies that it hopes will reduce costs drastically, increase revenues, and spark economic growth so that it can better fund its debt obligations. Puerto Rico's...