Puerto Rico debt financing gap wider in updated restructuring plan: government

Reuters News
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Posted: Jan 18, 2016 3:30 PM

NEW YORK (Reuters) - Puerto Rico, struggling to make its debt payments, outlined an increase in its financing gap on Monday, saying it now projects a $16.06 billion hole to fill, cumulatively, over the next five years, an increase of $2.1 billion from a September projection.

The Government Development Bank said in an updated Fiscal and Economic Growth Plan (FEGP) released on Monday that at the request of creditors, it added a 10-year financing gap projection. It now estimates its debt financing hole to grow to $23.9 billion through 2025.

(Reporting by Daniel Bases; Editing by Lisa Shumaker)