Puerto Rico Exits Bankruptcy After Grueling Debt Negotiation

Puerto Rico has completed the largest public debt restructuring in U.S. history. The island, which announced its inability to pay over $70 billion in debt nearly seven years ago, will now resume payments to bondholders and settle over $1 billion in claims. The debt crisis was caused by decades of corruption, mismanagement, and excessive borrowing. Natural disasters like Hurricane Maria, earthquakes, and the pandemic have further impacted the island's recovery efforts.

What significant financial event did Puerto Rico recently complete?

• Largest public debt restructuring in U.S. history

• Acquisition of a major bank

• Introduction of a new currency

• Establishment of a new financial market

What is one of the main reasons for Puerto Rico's accumulation of over $70 billion in debt?

• Excessive foreign investments

• Lack of natural resources

• Decades of corruption and mismanagement

• High tourism revenue

How much debt did Puerto Rico accumulate in public pension liabilities?

• $10 billion

• $70 billion

• $30 billion

• $50 billion

Which natural disaster in 2017 significantly impacted Puerto Rico's financial recovery?

• Hurricane Irma

• Hurricane Katrina

• Hurricane Maria

• Hurricane Sandy

Besides Hurricane Maria, what other events have strained Puerto Rico's economy?

• Floods and landslides

• Volcanic eruptions and tsunamis

• Droughts and wildfires

• Earthquakes and the pandemic