Municipal Bond Forum
Uncertain ‘adjustments’
Q
In your article, “Puerto Rico: Unable or Unwilling?” you quote the president of the Government Development Bank as saying officials expect to negotiate a “consensual adjustment” regarding Puerto Rico’s debt. What kind of haircut are we talking about? I committed my financial resources to their bonds and now I’m supposed to give even more.
A
James A. Klotz responds:
In her remarks, the president of the GDB, Melba Acosta, did not quantify what she called “adjustments.” At this point, we don’t know what she has in mind.
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