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Puerto Rico Senate Won’t Meet Board’s Deadline to Pass Bond Bill

Oct. 21, 2021, 11:35 PM

Puerto Rico’s Senate failed to meet a deadline set by the island’s financial oversight board to authorize new bonds and slash its obligations, a setback that threatens to prolong a four-year bankruptcy.

Senate President Jose Dalmau Thursday night said on the chamber’s floor that he doesn’t have the 14 votes to pass the bond bill. The Senate ended its session and plans to reconvene Tuesday. The oversight board said earlier Thursday that Puerto Rico must enact the legislation by Friday at 2 p.m., or it will withdraw its debt restructuring plan from the court.

This would further delay Puerto Rico’s ...

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