U.S. Congress to Tackle Puerto Rico's Financial Future
U.S. Congress is set to discuss the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) amid the ongoing bankruptcy of the Puerto Rico Electric Power Authority (PREPA). The authority needs to resolve its $10 billion bankruptcy to end fiscal irresponsibility. Meanwhile, LUMA ENERGY commits to serving its 1.5 million customers responsibly.
In a crucial move, the U.S. Congress is scheduled to deliberate on the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). This discussion comes at a pivotal moment for the Puerto Rico Electric Power Authority (PREPA), which is grappling with a staggering $10 billion bankruptcy.
The resolution of this financial quagmire is essential to halt the continuation of fiscal irresponsibility that has plagued the authority for a decade. The dire financial situation necessitates immediate and effective solutions to restore economic stability.
Meanwhile, LUMA ENERGY has pledged to continue its operations in a fiscally responsible manner, ensuring quality service for its 1.5 million customers despite the ongoing financial challenges.
(With inputs from agencies.)
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