Mauricio Sanchez: Puerto Rico board extends key deadlines on turnaround plan – Reuters
Reuters features Mauricio Sanchez in its article titled “Puerto Rico board extends key deadlines on turnaround plan.”
The island’s projected liquidity gap grew to $2.3 billion by the end of the fiscal year, from $2.18 billion in a November projection, according to government advisers from Conway MacKenzie.
With almost no money and some $46 billion in liabilities, the pensions could shift to a pay-as-you-go system this fiscal year. That could cost the government $950 million to $1 billion a year, said Mauricio Sanchez, a managing director at Conway.