Hints and tips:
...Territories like Puerto Rico do not have access to bankruptcy protection like US cities and public corporations....
...whose former owner Sir Philip Green was publicly excoriated as “the unacceptable face of capitalism” for taking profits while staff lost their retirement funds....
...its employee and teacher retirement system, the influential Government Development Bank and the Sales Tax Financing Corporation....
...Eighteen Puerto Rican authorities have issued debt, including the water and power utilities and the transport and highway authority, as well as obligations that were meant for the commonwealth’s general...
...The commonwealth is laden with about $70bn of debt incurred by the government, its agencies and utilities. That does not even include its yawning pension deficit....
...Stephen Spencer, a managing director with Houlihan Lokey, which is advising holders of debt issued by the island’s electric utility, said it was an “unfortunate development”....
...The island paid $15.4m due on debt issued by the Puerto Rico Sales Tax Financing Corporation, known as Cofina debt by its Spanish acronym, and $9.9m owed by the Government Development Bank, the commonwealth...
...Oh, and the island’s plan has a five-year term. Coincidentally, the public employees’ retirement system deficit explodes after five years....
...The Caribbean island is struggling with a $72bn debt mountain that its governor has characterised as “unpayable”. It has defaulted this year on a bond issued by the Public Finance Corporation....
...The report, which excluded debts issued by public agencies including the island’s water and power utilities, estimated $18.2bn in principal and interest payments were due by 2020....
...One analyst says that compared with many other parts of the island’s government-controlled entities Prasa is in “pretty good shape”, and more than $1bn of its debts are guaranteed by the commonwealth, complicating...
...My RHF the Northern Ireland Secretary and I are working towards the devolution of corporation tax....
...I’ve already announced a reduction in our corporation tax rate to 18%....
...Many are also utilities or are utility-like in that they have high barriers to entry that protect profits and increase certainty....
...Bermuda was gripped in 2007 by a scandal over suspected political graft involving the state housing corporation....
...This fund of Rs.4,000 crore will incentivise Banks and State Finance Corporations (SFCs) to lend to Micro and Small Enterprises (MSEs) by refinancing 50 per cent of incremental lending to MSEs during the...
...We also recommend an early retirement scheme for poor performers. Some of the personnel we interviewed acted as if they had already taken early retirement....
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