Trump: Wall Street Should Wave Goodbye to the Debt of Puerto Rico

Business » FINANCE | October 4, 2017, Wednesday // 10:00| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Trump: Wall Street Should Wave Goodbye to the Debt of Puerto Rico Archive

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.

Finance » Be a reporter: Write and send your article
Tags: Trump, wall street, Puerto Rico, debt
Advertisement All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria