Natalie Jaresko, the executive director of Puerto Rico's financial oversight board, has announced her resignation, effective April 1.
Jaresko's exit comes after a federal judge approved a restructuring plan that reduces the largest portion of the U.S. territory’s $70 billion public debt. The plan cuts part of the debt, about $33 billion, to roughly $7 billion — significantly reducing annual repayments to bondholders who own Puerto Rico’s debt, to $1.15 billion.
“I am leaving the Oversight Board at a time of recovery and stability," Jaresko said in a statement. "I am confident that the road that led us to this milestone will take Puerto Rico further to growth and prosperity."
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