Page 12 - ARUBA TODAY

A12 WORLD NEWS
Wednesday 28 February 2018

Puerto Rico: Treasury cuts $4.7B disaster relief loan to $2B

help from Congress. amid an 11-year recession.
Gov. Ricardo Rossello said Rossello said it seems the
federal officials reduced Treasury imposed certain
the amount to $2 billion loan restrictions to make it
without providing an expla- "extremely difficult for Puer-
nation nearly five months to Rico to access these
after Congress approved funds when it needs fed-
the loan. He warned the eral assistance the most."
move puts Puerto Rico in a He also said Treasury offi-
"dangerous financial dilem- cials told his administration
ma" and that his adminis- last week that they do not
tration could be forced to intend to forgive the loan.
cut some essential services Congress had approved
as the island continues to the loan in October to help
struggle after Hurricane Puerto Rico recover from
Maria. "Any material inter- the storm, which killed doz-
ruption to Puerto Rico's ens of people and caused
public services will only ex- up to an estimated $94 bil-
acerbate outmigration of lion in damage. Some 15
its population to the main- percent of power custom-
land and further deepen ers remain in the dark, and
and prolong Puerto Rico's more than 700 families are
decade-old fiscal and still living in hotels across
In this Sept. 28, 2017 photo, destroyed communities are seen in the aftermath of Hurricane Maria economic crisis," he said. the island. Last week, Puer-
in Toa Alta, Puerto Rico. Puerto Rico's governor is demanding action, on Tuesday, Feb. 27, 2018, Tens of thousands of Puer- to Rico's power company
from U.S. Congress after announcing that the Treasury Department has cut a nearly $5 billion di-
saster relief loan by more than half. to Ricans fled to the U.S. obtained a $300 million
(AP Photo/Gerald Herbert) mainland after the Cat- emergency loan that will
egory 4 storm, which hit as help keep it operating only
By DANICA COTO said Tuesday that the U.S. relief loan available to the the island was struggling to through late March, ac-
SAN JUAN, Puerto Rico (AP) Treasury Department has U.S. territory by more than restructure a portion of its cording to a federal con-
— Puerto Rico's governor cut a $4.7 billion disaster half, and he demanded $73 billion public debt load trol board overseeing the
island's finances. The board
said it plans to request more
Maldives health minister resigns amid crisis loans in upcoming weeks.
It is unclear why the $4.7
billion federal loan was re-
MALE, Maldives (AP) — Mal- criticized for alleged due and has earned respect cusing them of corruption. duced. A Treasury spokes-
dives state health minister process violations. and love of the people," Later, the remaining three person did not immedi-
Dunya Maumoon resigned "Today at this time of pain his daughter stated, call- judges annulled the order ately return a message for
Tuesday in an apparent and crisis for both my fam- ing upon the international to release Yameen's oppo- comment. In January, offi-
protest against the arrest of ily and my country, it is my community to support the nents. cials with the Treasury De-
her father, former president sincere hope to see my fa- Maldivian people in over- Maldives became a mul- partment and the Federal
Maumoon Abdul Gayoom, ther home at the earliest," coming the crisis and build- tiparty democracy after Emergency Management
while appealing to the in- Dunya stated in a state- ing a stronger democratic decades of autocratic Agency sent Puerto Rico
ternational community to ment posted on her Twitter system. rule. Yameen has rolled officials a letter stating they
help the Maldivian people account. Yameen last week extend- back much of the country's were temporarily withhold-
overcome the weeks-long Maumoon Abdul Gay- ed the state of emergency democratic gains after be- ing the loan because they
political crisis in the Indian oom, who is Yameen's for another 30 days and ing elected in 2013. did not believe the govern-
Ocean archipelago. half-brother, was arrested Parliament approved it. The country's traditional ment was facing a cash
Dunya is also the niece of three weeks ago after the The opposition said the political alliances have shortage as it had previous-
current President Yameen emergency decree. He is emergency extension was been upended in recent ly warned. Federal officials
Abdul Gayoom, who ear- accused of conspiring with illegal because there was years. Maumoon Gayoom said the money would be
lier this month declared a the opposition to overthrow no constitutionally required is allied with exiled former released via the Commu-
state of emergency in a the government. quorum in Parliament. The President Mohamed Na- nity Disaster Loan Program
bid to strengthen his pow- He was president from 1978 regulations give wide pow- sheed, who unseated him once the island’s central
ers after the country's Su- to 2008, when the Maldives ers to security forces to in the 2008 election. cash balance decreased
preme Court ordered the became a multiparty de- detain people and curtail Nasheed, Yameen's most to a certain level. Rossello
release of a group of Ya- mocracy. freedom to protest. prominent rival, is among said talks with Treasury of-
meen's political opponents "He is not just my father, but Under the emergency law, the politicians ordered ficials are ongoing even as
who had been imprisoned the father of the nation, Yameen had two Supreme freed by the Supreme he has asked Congress to
after convictions that were who has built this country Court judges arrested, ac- Court.q intervene.q