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WORLD NEWS Wednesday 14 February 2018

US breaks ground on new embassy in Mexican capital

MEXICO CITY (AP) — Work Jacobson said. "Today we
has begun on the long- celebrate the start of a
awaited new United States building that will stand as
Embassy in Mexico City a testament to both, cel-
that will be one of the most ebrating our friendship and
expensive in the world at empowering our diploma-
nearly $1 billion. cy in the years ahead."
The $943 million embassy is Mexican Interior Secretary
expected to be completed Alfonso Navarrete Prida
in 2022, when the U.S. will echoed that sentiment,
leave its current building saying that the new embas-
on the Mexican capital's sy represented a "bridge of
grand Paseo de la Reforma friendship."
boulevard, which has been The new embassy with an
a regular site of marches environment-friendly de-
and protests over the years. sign will be on a former in-
U.S. Ambassador Roberta dustrial site that required
Jacobson and Mexico extensive toxic cleanup.
City Mayor Miguel Angel The area known as New Po-
Mancera participated in lanco includes modern mu-
the ceremonial ground- seums and other upscale
breaking at the 8.5-acre projects developed by Car-
(3.4-hectare) site in western los Slim, one of the world's
Mexico City on Tuesday. wealthiest men, who also
"Mexico is one of the Unit- attended the event. U.S. Ambassador to Mexico Roberta Jacobson, center, is accompanied by Mexico City Mayor
ed States' closest and most The construction contract Miguel Angel Mancera, center right, Secretary of the Interior Alfonso Navarrete Prida, center left,
valued partners. We are was awarded to Alabama- and other Mexican and U.S. officials during the groundbreaking ceremony for the new U.S. em-
neighbors with a deep his- based Caddell Construc- bassy slated to cost nearly $1 billion, in Mexico City, Tuesday, Feb. 13, 2018.
tory and a shared future," tion in September 2017.q (AP Photo/Rebecca Blackwell)
Board: Puerto Rico needs reforms, pay portion of debt

By DANICA COTO investment summit and debt service in the next "The process will not be free Puerto Rico's government,
SAN JUAN, Puerto Rico warned that the additional five years. A revised version of obstacles and challeng- said the focus has to be on
(AP) — Puerto Rico needs federal funds would not of the plan is due before es," Carrion warned. growth for the next several
urgent structural reforms solve Puerto Rico's "signifi- Tuesday, and the board Some experts clashed dur- years.
and to pay back part of its cant" problems given its 11- and government officials ing the investment summit "That's the only way they're
debt even after Congress' year economic crisis and are expected to clash over over whether Puerto Rico going to get paid," he said
recent approval of nearly struggle to recover from some items. should pay a portion of its of creditors.
$17 billion in additional di- Hurricane Maria. "The cost Secretary of Public Affairs debt in upcoming years. Noel Zamot, the board's
saster funds, the president of the recovery will be sub- Ramon Rosario recently Matt Rodrigue, who rep- revitalization coordinator,
of a federal control board stantial. Not all will be reim- said the government would resents a group that holds said during the investment
overseeing Puerto Rico's fi- bursed by the federal gov- not cut any benefits for the more than $3 billion in Puer- summit that 40 develop-
nances said this week. ernment." U.S. territory's employees as to Rico government bonds ment projects have been
Jose Carrion said the U.S. He also said the island has suggested by the board, backed by a sales-and-use submitted so far to help
territory needs to reform its to pay back a "reasonable which is expected to ap- tax, said the island has not Puerto Rico emerge from its
labor, corporate tax and and substantial" portion of prove a final fiscal plan been able to access capi- crisis, including $4.8 billion in
welfare systems to reboot its $73 billion public debt by Feb. 23. Many Puerto tal markets since 2014. He energy projects alone. He
its economy. load. His comments con- Ricans fear additional aus- said paying off some of the said the U.S. territory is cur-
"We are aware that some flict with a fiscal plan Puerto terity measures will be im- debt would help it return to rently looking for projects
reforms are not political Rico's government recently plemented even as they the markets. But attorney related to power, housing,
palatable," said Carrion, submitted that does not struggle five months after Richard Cooper, whose waste management and
who spoke at a Puerto Rico set aside any money for the Category 4 storm hit. firm previously advised transportation.q