The plan filed by a federal control board that oversees the U.S. territory’s finances would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion.

The plan filed late Friday would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion.

The federal control board that oversees Puerto Rico's finances on Friday released a plan that would cut the island's debt by more than 60% and rescue it from bankruptcy.

The plan filed by a federal control board that oversees the U.S. territory’s finances would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion.

This plan, co-authored by Dr. Martha Quiñones Domínguez, myself, and other experts, lays out the most comprehensive economic roadmap Puerto Rico has seen in decades.

The plan filed by a federal control board that oversees the U.S. territory's finances would cut the debt of Puerto Rico's Electric Power Authority by nearly 80% to $2.5 billion.