Treasury’s Lew Says Puerto Rico Crisis Must Be Resolved Locally
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Puerto Rico’s debt crisis must be resolved by local officials in cooperation with stakeholders, including bond investors, because Washington won’t be coming to the island’s rescue, Treasury Secretary Jacob J. Lew said.
“There is not any discussion of a federal bailout, and I think that the leaders of Puerto Rico understand this has to be worked out by policy makers in Puerto Rico,” Lew said in Washington Wednesday. “They understand there is not any single external solution to this.”