Natalie Jaresko, the executive director of Puerto Rico's financial oversight board, has announced her resignation, effective April 1.
Jaresko's exit comes after a federal judge approved a restructuring plan that reduces the largest portion of the U.S. territory’s $70 billion public debt. The plan cuts part of the debt, about $33 billion, to roughly $7 billion — significantly reducing annual repayments to bondholders who own Puerto Rico’s debt, to $1.15 billion.
“I am leaving the Oversight Board at a time of recovery and stability," Jaresko said in a statement. "I am confident that the road that led us to this milestone will take Puerto Rico further to growth and prosperity."
Read the full story at NBCNews.com
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter here.
