GAO GAO-21-508: U.S. Territories: Public Debt Outlook – 2021 Update
U.S. TERRITORIES Public Debt Outlook – 2021 Update Report to Congressional Committees June 2021 GAO-21-508 United States Government Accountability Office United States Government Accountability Office Highlights of GAO-21-508, a report to congressional committees June 2021 U.S. TERRITORIES Public Debt Outlook – 2021 Update What GAO Found Commonwealth of Puerto Rico (Puerto Rico): Puerto Rico remains in default. It has finalized three debt restructuring agreements or settlements to date, pursuant to three distinct legal approaches, and it is using one of these approaches to restructure additional debt. Puerto Rico’s total public debt outstanding as a share of Gross National Product increased slightly from 93 to 95 percent between fiscal years 2016 and 2017, the most recent year for which audited financial data are available. Puerto Rico’s total revenue remained consistent between fiscal years 2016 and 2017 at about $30.0 billion and the territory operated with a $3.1 billion deficit in fiscal year 2017. …
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