Puerto Rico Governor Defies Board to Avoid ‘Death Spiral’

Updated on
  • Governor says more austerity will worsen island’s collapse
  • Board needs plan before restarting talks with creditors

Puerto Rico Governor Alejandro Garcia Padilla is refusing a U.S. oversight board’s request to redraw his plan for pulling the island from a debt crisis, marking a challenge to the newly formed federal panel that threatens to further delay negotiations with bondholders.

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