|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Caribbean

Puerto Rico Governor Announces Loan Accord with US Treasury

SAN JUAN – Puerto Rico Gov. Ricardo Rossello announced on Thursday an agreement with US Treasury Secretary Steven Mnuchin regarding the terms for distributing funds to the island from the Community Disaster Loans program.

Rossello made the announcement in San Juan accompanied by Mnuchin, saying that Puerto Rico will have access to all $4.7 billion in CDL funds that the US Congress had approved for the island last October, a few weeks after Hurricane Maria wreaked havoc there.

Mnuchin had been delaying the release of the funds – in the form of loans – because of a disagreement over how the money would be repaid.

The funds will be available to Puerto Rico according to its needs up until March 2020 and Rossello said that the island can access the loans if its cash balance falls below $1.1 billion.

“We’ve reached an agreement that is beneficial both for the taxpayer and for the people of Puerto Rico,” said Rossello.

For months, Rossello has said that the loan delays were hampering Puerto Rico in its recovery from Hurricane Maria, which hit the island last Sept. 20, virtually wiping out its electric grid and damaging hundreds of thousands of homes.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2019 © All rights reserved