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Trump Vows to Wipe Out Puerto Rico’s Debt. Can He Do That?
For more than a year, Puerto Rico has clashed with investors who hold slivers of its $73 billion debt, and who have pushed the United States territory to pay up. On Tuesday, during his visit to the hurricane-struck island, President Trump raised a prospect that could cheer the island’s residents but send shudders through Wall Street: Maybe the debt can simply go away. In an interview with Fox News, Mr. Trump said his administration would help Puerto Rico wipe out the debt to help it recover from the extensive damage left by Hurricane Maria two weeks ago. He did not offer specifics. “We’re going to do something. ... (full story)
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