Alejandro Garcia Padilla

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Last quote by Alejandro Garcia Padilla

And, even if spending is reduced to pay the debt, you will soon realize that any reduction in spending implies intolerable effects in aggregate demand and will further throw Puerto Rico into a death spiral that will directly affect creditors' recoveries across the board.
Oct 14 2016
This page is completely dedicated to what Alejandro Garcia Padilla has to say. All of Alejandro Garcia Padilla’s quotes are organized here by date and topic. The most recent quote attributed to Alejandro Garcia Padilla came from an article called Puerto Rico governor offers plan to right island's economic ship: “Rather they are the culmination of decades of misguided and unscrupulous public policies in San Juan, Wall Street and Washington.”.
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Alejandro Garcia Padilla quotes

On Monday there's going to be a non-payment. I don't think that we'll find $422 million in the next few days that we haven't found before. Although we're working with the creditors to come up with an agreement that would help us, I don't think there's anything on the table that would stop that non-payment. At this point, the ball is in Congress' court.

I have instructed our team and our advisors to present to our creditors' advisors ... the Commonwealth's proposal for a voluntary debt exchange. It is our every intent to protect the integrity of the process, and as such, we do not plan to negotiate the terms of our proposal publicly.

This is the battleground. It's not over until it's over.

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