SAN JUAN — President Donald Trump says “We’re going to have to wipe out” Puerto Rico’s debt in the wake of destruction caused by Hurricane Maria.
He tells Fox News in an interview that: “We’re going to work something out.”
He goes on to say: “We have to look at their whole debt structure. You know, they owe a lot of money to your friends on Wall Street. And we’re going to have to wipe that out.”
The White House did not immediately respond to questions about how the president wanted to do that.
Trump spoke to Fox in San Juan, Puerto Rico, which he toured Tuesday.
Before the storm, the island’s government was in the midst of bitter negotiations with creditors to restructure a portion of its $73 billion in debt. The island’s previous governor had declared that debt unpayable.
