Puerto Rico tvingas ställa in betalningar efter orkan

The Puerto Rican government-debt crisis is a financial crisis affecting the government of Puerto Rico. After decades of mismanagement, the government's outstanding debt exceeds $70 billion (in addition to $50 billion in pension obligations). These debts increased the government's debt-to-GDP ratio to about 68%, which forced it to cut spending, increase tax revenue, and attempt to spark economic growth so that its obligations could be better funded. Despite drastic measures, the debt crisis continues as the Puerto Rican economy's health is precarious and aggravated by social distrust and unpleasantness. On August 3, 2015, Puerto Rico defaulted on a $58 million bond payment to the Public Finance Corporation, a subsidiary of the Government Development Bank, while other financial obligations were met. In June 2016, President Barack Obama signed PROMESA into law, which appointed an oversight board with ultimate control over the commonwealth's budget and debt restructuring. The board extended a moratorium on debt collection lawsuits by creditors until May 1, 2017. Creditors sued as soon as the stay expired, and on May 3, 2017, the Commonwealth sought the quasi-bankruptcy protections provided by the aforementioned law.