U.S. Markets closed

Puerto Rico pitches changes to fiscal plan to avoid cuts

SAN JUAN, Puerto Rico (AP) -- Puerto Rico Gov. Ricardo Rossello is suggesting unspecific changes to the territory's proposed 10-year fiscal plan in hopes of avoiding a federal control board's recommendation to slash public employees' pay and working hours by 20 percent.

The governor said Saturday his proposed measures add up to $262 million annually but did not say if they are spending cuts or revenue increases. He said his administration would continue guaranteeing health care coverage for the island's most vulnerable people.

The board last week rejected the government's proposed fiscal plan as too optimistic and is expected to certify a revised version with more austerity measures on Monday in New York. Officials say a certified plan will be key to resuming talks with creditors to restructure much of Puerto Rico's nearly $70 billion debt.