Trump: Wall Street Should Wave Goodbye to the Debt of Puerto Rico
US President Donald Trump said Puerto Rico's big debt should be forgotten, the country was devastated by Hurricane Mary, reports Mediapool.
Trump said this while visiting the Caribbean island that is US territory to get to know the situation, Reuters reported.
In a Fox News TV interview, the president said, "They (the Puerto Rican) owe a lot of money to our Wall Street friends and we will have to write them off, we will forgive them, I do not know if this is the Goldman Sachs bank, but whoever it is, they can help them by saying goodbye to their debt.
The White House did not immediately respond to questions about how the president believes this will happen, notes the Associated Press. Puerto Rico's debt amounts to USD 72 billion. Their health and pension systems are virtually insolvent. The former governor of the island said the debt could not be paid. Prior to the storm, the island government conducted tough negotiations to restructure part of the debt.