Puerto Rico Bankruptcy-Exit Plan Offers Island a Fresh Start
(Bloomberg) -- Puerto Rico is inching closer to ending its more than four-year bankruptcy as the judge overseeing the workout is reviewing a restructuring plan that cuts billions in debt, fixes a broke pension system and potentially returns the commonwealth to balanced budgets. Most Read from Bloomberg U.S. District Court Judge Laura Taylor Swain may rule as soon as next month on the debt adjustment deal. If she approves it, Puerto Rico will be able to move past its bankruptcy and focus on boosting its economy and modernizing the island’s electrical grid to end chronic outages. “It removes a huge cloud that’s been hanging over the economy for four years now,” said Sergio Marxuach, policy director at the Center for a New Economy, a San Juan-based research institute that analyzes the commonwealth’s finances. “We can start to change the narrative from ‘Puerto Rico is in bankruptcy’ to ‘Puerto Rico is recovering,’ which is positive in terms of attracting investment.” Puerto Rico’s Bankrupt