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

05:25  04 october  2017
05:25  04 october  2017 Source:   reuters.com

Trump: Puerto Rico is in 'deep trouble' after hurricanes

  Trump: Puerto Rico is in 'deep trouble' after hurricanes President Trump on Monday said Puerto Rico is in "deep trouble" as it faces large-scale damage and destruction brought about by Hurricane Maria, while pointing to its outdated infrastructure and large debt that complicate recovery efforts. Texas & Florida are doing great but Puerto Rico, which was already suffering from broken infrastructure & massive debt, is in deep trouble..

In an interview with Fox News, President Donald Trump said that Puerto Rico ' s debt will have to wiped out . "They owe a lot of money to your friends on Wall Street and we ' re going to have to wipe that out .

US President Donald Trump said that Puerto Rico ’ s billion debt would have to be wiped out to help the island recover from the catastrophic damage caused by Hurricane Maria that he witnessed during his visit.

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 TPX IMAGES OF THE DAY 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.

Oct 3 (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.

"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 debt load and near-insolvent public health and pension systems.

(Reporting by Eric Beech in Washington; Editing by Eric Walsh)

U.S. House Speaker Ryan in Puerto Rico as Maria costs mount .
House Speaker Paul Ryan is getting a firsthand look at the devastation left by Hurricane Maria in Puerto Rico.Ryan and other members of a congressional delegation met at the airport briefly with officials from the Federal Emergency Management Agency on Friday.

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