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offsite link New Lockdown Rejected by England Mayor S... Thu Oct 01, 2020 16:40 | Paul Sims

offsite link Turkey’s Syrian Mercenaries in Azerbai... Thu Oct 01, 2020 15:50 | Lindsey Snell

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Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Understanding the Concepts of Imamat and Wilayat in Shi?a Islam: Iranian Revolution and Constitution... Thu Oct 01, 2020 19:34 | amarynth
by Mansoureh Tajik for the Saker Blog Bismillah-ir-Rahman-ir-Rahim, ?In the Name of God, the Most Gracious, the Most Merciful. Who is qualified to be in the position of governing and

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By Pepe Escobar, posted with permission and first posted at Asia Times Few geopolitical hot spots across the planet may rival the Caucasus: that intractable, tribal Tower of Babel, throughout

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The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Sarah McInerney and political impartiality

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offsite link Irish Examiner bias Anthony

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offsite link Hong Kong and democracy Anthony

Public Inquiry >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

Puerto Rico Debt Deal Receives Court Approval

category international | economics and finance | press release author Tuesday February 05, 2019 18:41author by JubileeUSA Network Report this post to the editors

Judge Laura Taylor Swain approved a deal to restructure $17 billion of Puerto Rico's $72 billion debt on Monday. Court approval was the last hurdle creditors and the island's oversight board needed for a plan to address sales tax backed debt or "COFINA" debt.

Judge Laura Taylor Swain approved a deal to restructure $17 billion of Puerto Rico's $72 billion debt on Monday. Court approval was the last hurdle creditors and the island's oversight board needed for a plan to address sales tax backed debt or "COFINA" debt.

"We are worried that not enough debt is being cut and that Puerto Rico's people are carrying heavy austerity burdens," said Jubilee USA Executive Director Eric LeCompte, who monitors Puerto Rico's debt. "The math isn't adding up. If plans to restructure the remaining debt fail to cut the majority of the island's debt load, Puerto Rico can't see sustained economic recovery and growth."

The ruling followed two days of hearings and weeks of deliberation. In Swain's "COFINA" ruling, she notes objections to the debt plan, such as sustainability and the lack of a complete debt audit.

"Nearly six out of ten kids live in poverty in Puerto Rico and if future debt deals don't cut enough debt, we won't address the child poverty epidemic on the island," noted LeCompte, who serves on United Nation finance expert groups.

Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.

www.jubileeusa.org

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