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Puerto Rico debt financing gap wider in updated restructuring plan: government

Published 01/18/2016, 03:31 PM
Updated 01/18/2016, 03:40 PM
© Reuters. The Government Development Bank (GDB) is seen in San Juan

NEW YORK (Reuters) - Puerto Rico, struggling to make its debt payments, outlined an increase in its financing gap on Monday, saying it now projects a $16.06 billion hole to fill, cumulatively, over the next five years, an increase of $2.1 billion from a September projection.

© Reuters. The Government Development Bank (GDB) is seen in San Juan

The Government Development Bank said in an updated Fiscal and Economic Growth Plan (FEGP) released on Monday that at the request of creditors, it added a 10-year financing gap projection. It now estimates its debt financing hole to grow to $23.9 billion through 2025.

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