A month ago, a report by former IMF official Anne Krueger, commissioned by Puerto Rico´s government, said the island‘s woes must be solved through concessions from bondholders combined with fiscal and economic adjustments.
Around the same time, Puerto Rican Gov. Alejandro Garcia Padilla called for a wide-ranging debt restructuring, deeming the island‘s debt „unpayable.“
But Puerto Rico has a „deficit problem, not a debt problem,“ Centennial said in its report.