Puerto Rico Leaders Vow to Repay While Seeking Restructuring
Inside Puerto Rico's Debt Problem
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Junk-rated Puerto Rico will repay its obligations as it looks to reduce a $72 billion debt load through restructuring, legislative leaders said.
The pledge to continue paying principal and interest comes as the legislature plans to approve a $9.8 billion budget for the fiscal year starting July 1, Senate President Eduardo Bhatia and House Speaker Jaime Perello told reporters in San Juan. The spending package includes $1.5 billion for principal and interest, about 15 percent of the budget.