Good morning. Today is March 8th, 2019. My name is Eduardo Isenti and these are Puerto Rico's top news.

So we start off with pension plans, which as we knew will be on average about 10% for Puerto Rico pension holders of the central government and out and the agencies by July of this year.

So the average pension holder will see a cut in his monthly paycheck of about 10%.

Pension holders who have pensions of over $1,000 a month will see even greater cuts. The cuts might could reach up to 20% for some of the highest

earning pension holders. So the government, the governor has already said that he will not

be doing these cuts that he's against them, but the Boston courts have already determined that these cuts have to be made if the control

board, actually the oversight board says so because the oversight board has control over

this fiscal plan.

The Boston courts, as I have also said, that pension bondholders, POB bond1 holders need to be paid.

So maybe there can be a restructuring of their debt,

but it's not like we're going to wipe them out completely.

So in order to pay them, the government

will either have to raise the amount.

It is paying month over month in a pay go system

to for pensions and take that budget out of somewhere else, education,

UPR system, healthcare, or it will have to do what the oversight board says and bring pension

plans down in order to get some money, some of the extra money and pay bondholders. Whatever the restructured amount is determined to me.

I'm sure we're gonna be talking about this

a lot more in the coming months

because as July arrives,

the oversight board is gonna start pressuring more and more

for the government to implement this

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