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The Saker
A bird's eye view of the vineyard

offsite link President Putin?s Speech at the Shanghai Cooperation Organisation Heads of State Council Meeting Sun Jun 16, 2019 00:01 | Scott
June 14, 2019 http://en.kremlin.ru/events... President of Russia Vladimir Putin: Mr President of Kyrgyzstan, colleagues, I certainly agree with the positive assessments of the activities of our organisation, the SCO, which have just been voiced here. The SCO is indeed

offsite link Moveable Feast Cafe 2019/06/15 ? Open Thread Sat Jun 15, 2019 10:30 | Herb Swanson
2019/06/15 09:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link ?Nuclear Armageddon? and Geopolitical Simulacrum Sat Jun 15, 2019 08:00 | The Saker
by Ollie Richardson for The Saker Blog As I have now come to expect, some of the comments posted beneath my last article (and if to be honest, beneath any

offsite link The Poles are braver than the Russians! The President of Poland Sat Jun 15, 2019 04:15 | Scott
by Ruslan Ostashko Translation and subtitles by Eugenia

offsite link The curious case of the tankers Fri Jun 14, 2019 16:49 | The Saker
by Nat South for The Saker Blog I have taken the opportunity to look at the recent incident involving two outbound tankers in the Gulf of Oman. I have got

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Cedar Lounge
For lefties too stubborn to quit

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offsite link Forty years of Unknown Pleasures by Joy Division 11:30 Sat Jun 15, 2019 | WorldbyStorm

offsite link This Weekend I?ll Mostly Be Listening to? Nomeansno 07:06 Sat Jun 15, 2019 | irishelectionliterature

offsite link Hilarious 12:16 Fri Jun 14, 2019 | WorldbyStorm

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Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

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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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