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More in Debt Than Puerto Rico, the Virgin Islands Rejects Rescue
Tuesday, May 31, 2016 8:47
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Congress’s plan to throw a lifeline to Puerto Rico is making waves in the U.S. Virgin Islands.
The measure that passed a House committee last week would allow for a federal control board to oversee the finances — and potentially restructure the debt — of any U.S. territory, even though Puerto Rico is the only one now asking for help. Virgin Islands Governor Kenneth Mapp and Rep. Stacey Plaskett have blasted the bill, warning that it may tarnish its standing with investors. That concern is already starting to materialize: Returns on its securities are trailing the $3.7 trillion municipal market for the first time since 2011 …. http://www.bloomberg.com
Source: http://luismmx.blogspot.com/2016/05/more-in-debt-than-puerto-rico-virgin.html
