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Rosselló: Administration Turned its Back on Puerto Ricans who Invested in Island Bonds

By on July 2, 2016

LAJAS, Puerto Rico – New Progressive Party (NPP) gubernatorial candidate Ricardo Rosselló came out in defense of Puerto Ricans who invested in bonds issued by the government, “and now the administration of [Gov. Alejandro García Padilla] is turning its back on them by refusing to pay interest on Puerto Rico’s general obligation debt.”

NPP gubernatorial candidate Ricardo Rosselló

NPP gubernatorial candidate Ricardo Rosselló

Rosselló believes the nonpayment Friday of interest will result in the loss of income for “thousands of retirees who depend on those monthly funds to cover their ordinary expenses.”

While in Lajas, where he is was participating Saturday in various events as part of his campaign for governor, the candidate said, “I urge the governor not to turn his back on the thousands of Puerto Ricans…who after decades of work invested their savings in Puerto Rico government bonds. Those families depend on the payment of that interest, invested from their savings, in their daily lives to purchase their medicines, pay the rent and pay for food.”

Rosselló, who is also the party president, added that “the funds received by that sector of our population affects our economy, and therefore the damage caused by Gov. García Padilla’s incorrect decision is twofold: It is a direct blow to thousands of families as well as business.

“García Padilla’s fiscal policy has not only taken the retirement systems to their critical condition, but has also stayed with the savings of thousands of Puerto Ricans who invested in government bonds.”

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