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Sarah Lazare – New report commissioned by bondholders and hedge fund managers calls for sweeping austerity measures

Hedge fund managers and bondholders are pressing the government of Puerto Rico to drive through a series of punishing austerity measures, including dramatic cuts to public education and workers’ rights protections, to “solve” the crisis of debt and poverty gripping the Caribbean island. A group representing $5.2 billion of debt held by 38 investment managers paid three former economists for …