The United States will not bail out Puerto Rico with federal funds allocated for post-hurricane recovery, President Donald Trump said in a statement on Tuesday.
WASHINGTON (Pakistan Point News / Sputnik - 23rd October, 2018) The United States will not bail out Puerto Rico with Federal funds allocated for post-hurricane recovery, President Donald Trump said in a statement on Tuesday.
"The US will not bail out [Puerto Rico's] long outstanding &unpaid obligations with hurricane relief money!" Trump wrote in a Twitter post.
Trump added that Puerto Rican officials are trying to use significant amount of government emergency funds to pay off other debts.
Earlier in the day, the Financial Oversight and Management board announced in San Juan it certified a new fiscal plan for Puerto Rico aimed at pulling the US territory out of an economic crisis. It includes energy, infrastructure, pension, and healthcare reforms, as well as cuts to government spending.
According to US media reports, the fiscal plan also includes an additional $20 billion in federal disaster relief funding.
