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Reuters Staff -For a $4.9 bln loanto help cash-strapped Puerto Rico Trump asks Congress

 

 

 

By Reuters Staff

WASHINGTON
Petroleumworld 11 09 2017

President Donald Trump asked the U.S. Congress on Tuesday for a $4.9 billion loan to help the cash-strapped Puerto Rican government pay its bills as it struggles to recover from devastation caused by Hurricane Maria, an administration official said.

The community disaster loan would include a $150 million advance, the administration official said, speaking on condition of anonymity.

“The $4.9 billion loan would help them with short-term liquidity problems in financing,” such as payroll and pensions, the official said. “The money cannot be used for debt service.”



Reporting by Roberta Rampton; Editing by Chris Reese from Reuters.

reuters.com 10 10 2017

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