Puerto Rico’s debt holding vulture funds have demanded that the Caribbean island slash public spending, especially on education, to deal with its debt crisis. In a re port commissioned by 34 hedge funds, International Monetary Fund economists call on Puerto Rico to raise taxes, cut medical aid benefits, close schools, slash education subsidies and restructure labor laws and welfare. The report comes as economists say that Puerto Rico will not be able to make its next debt payment of US$90 million due next Saturday. teleSUR
