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Puerto Rico Expects $3.7B Budget Deficit in 2016

SAN JUAN (dpa) – Concerns were on the rise Monday regarding the possibility of a cash crunch in Puerto Rico, a day after Governor Alejandro Garcia Padilla said the island’s debts are “not payable.” US expert Anne Krueger, a former deputy managing director of the International Monetary Fund (IMF) and former chief economist of the…


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The Author

John McCarthy

John McCarthy

John McCarthy is primarily known for his investigative reporting on the U.S. Virgin Islands. A series of reports beginning in the 1990's revealed that there was everything from coliform bacteria to Cryptosporidium in locally-bottled St. Croix drinking water, according to a then-unpublished University of the Virgin Islands sampling. Another report, following Hurricane Hugo in 1989, cited a Federal Emergency Management Agency (FEMA) confidential overview that said that over 50 percent of the U.S. Virgin Islands public lives below the poverty line. The Virgin Islands Free Press is the only Caribbean news source to regularly incorporate the findings of U.S. Freedom of Information Act requests. John's articles have appeared in the BVI Beacon, St. Croix Avis, San Juan Star and Virgin Islands Daily News. He is the former news director of WSVI-TV Channel 8 on St. Croix.

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