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Puerto Rico’s Overseers Are Unimpressed With the Four-Year Wait for Financials

Submitted by jhartgen@abi.org on

Puerto Rico’s most-recent audited financial statements are almost four years old, casting doubt over just how broke the bankrupt island is as creditors fight over its cash and residents protest proposed austerity measures in the streets. The U.S. territory’s federal oversight board signaled it’s tired of waiting, Bloomberg News reported. The panel is asking Puerto Rico to provide by May 7 a timetable for when it plans to make public the audited financial statements for fiscal years 2015 through 2017, according to a letter from the panel to Gerardo Portela, the executive director of the commonwealth’s fiscal agency, that was posted yesterday on the board’s website.

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