Fed’s Dudley says Puerto Rico must ‘start from scratch’
Territory must face up to “painful” decisions to tackle debt and infrastructure problems
The president of the Federal Reserve Bank of New York has said the hurricanes which devastated Puerto Rico in 2017 may have provided the US territory with an “opportunity” to rebuild its economy and infrastructure from the ground up.
Speaking on February 23 at a press briefing, William Dudley provided an update on Puerto Rico and the US Virgin Islands, almost 4 months after they were hit by two of the worst hurricanes witnessed in over a century.
“Now is a perfect opportunity for Puerto Rico
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Accountability
Head of Romania’s central bank ‘deepfaked’ by scammers
NBR says fraudsters’ use of AI-generated video points to increasing risks from manipulated imagery
Local preferences affect US bank lending to minorities – research
Ethnic minorities’ credit access is affected by stakeholders, NY Fed paper finds
Polish governor appeals to ECB for support against removal
Lagarde says “not lawful” impeachment could harm central bank independence
Two dozen Vietnamese central bankers accused of bribery
Vietnamese authorities allege 24 central bank officials took bribes from a troubled lender
Ghana’s governor rejects opposition calls to resign
Addison says central bank only used monetary financing to respond to crisis
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
Chinese prosecutors charge ex-PBoC official with taking bribes
Central bank fired deputy governor Fan Yifei in December
Ghana opposition demands governor resign
Parliamentary leader threatens march after Bank of Ghana reports $5.4 billion loss