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Trump says Puerto Rico's debt will have to be wiped out
October 4, 2017 / 2:07 AM / 19 days ago

Trump says Puerto Rico's debt will have to be wiped out

(Reuters) - President Donald Trump said on Tuesday while on a trip to Puerto Rico to observe hurricane recovery efforts that the island’s massive debt will have to be wiped out.

U.S. President Donald Trump walks past hurricane wreckage as he participates in a walking tour with first lady Melania Trump, Guaynabo Mayor Angel Perez Otero (2nd R) and Acting FEMA Administrator Brock Long (far R) as well as Puerto Rico Governor Ricardo Rossello (L) and his wife Beatriz Areizeaga in areas damaged by Hurricane Maria in Guaynabo, Puerto Rico, U.S., October 3, 2017. REUTERS/Jonathan Ernst

“They owe a lot of money to your friends on Wall Street and we’re going to have to wipe that out. You’re going to say goodbye to that, I don’t know if it’s Goldman Sachs but whoever it is you can wave goodbye to that,” Trump said in an interview with Fox News.

Puerto Rico, which earlier this year filed the biggest bankruptcy in U.S. municipal history, is struggling to regain economic stability in the face of a $72 billion (£54.3 billion) debt load and near-insolvent public health and pension systems.

Reporting by Eric Beech in Washington; Editing by Eric Walsh

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