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Puerto Rico: Treasury Cuts $4.7 Billion Disaster Relief Loan to $2 Billion

Puerto Rico's governor said Tuesday that the U.S. Treasury Department has cut a $4.7 billion disaster relief loan available to the U.S. territory by more than half, and he demanded help from Congress. Governor Ricardo Rossello said federal officials reduced the amount to $2 billion without providing an explanation nearly five months after Congress approved the loan. He warned the move puts Puerto Rico in a "dangerous financial dilemma" and that his administration could be...

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