It's Time to Start Pumping Up The Worst-Funded Pension Plan

Cataldo, Adam L.
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p24
Trade Publication
The article provides an overview of the fiscal condition of Puerto Rico. The commonwealth is expecting a deficit of more than $1 billion at the end of the current fiscal year on June 20, 2006. Puerto Rico has an ongoing structural budget deficit of about $1 billion. Government Development Bank executive vice president for financing Jorge Irizarry comments on the unfunded deficits in Puerto Rico's pension funds. Governor Anibal Acevedo Vila has issued a resolution calling for an overhaul of the tax system to address the pension funds and other financial problems of Puerto Rico.


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