Law for Puerto Rico Government Development Bank’s debt-restructuring signed
From Caribbean Business SAN JUAN – Gov. Ricardo Rosselló has signed Senate Bill 908, which includes amendments to restructure the debt of the Puerto Rico Government Development Bank (GDB). “This agreement reaffirms our desire to reach agreements with our creditors,”…
La Fortaleza: GDB interest payment wasn’t made
By Luis J. Valentín From Caribbean Business SAN JUAN — After hours of much deliberation among Gov. Alejandro García Padilla and his administration’s fiscal team, a $28 million interest payment on Government Development Bank (GDB) debt due Aug. 1 failed to…
Melba Acosta resigns as GDB President
By Luis J. Valentín From Caribbean Business SAN JUAN — On Thursday, La Fortaleza announced the resignation of Government Development Bank (GDB) President & Chairwoman Melba Acosta, effective July 31. In her resignation letter dated July 6, she says it is…
Bank sued by hedge funds
From Caribbean News Service SAN JUAN, Puerto Rico, Apr 05 2016 – A group of hedge funds that say they hold a significant amount of Puerto Rico debt sued the island’s troubled Government Development Bank on Monday, a move that…
