June 27, 2016 / 12:22 PM / a year ago

Treasury Secretary Lew asks Senate for immediate action on Puerto Rico debt crisis

U.S. Treasury Secretary Jack Lew attends a discussion about the 2016 U.S.-China Strategic and Economic Dialogue and overall U.S.-China bilateral economic relations at Tsinghua University in Beijing, China, June 5, 2016. REUTERS/Jason Lee

WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew on Monday called on the Senate to take immediate action this week to address Puerto Rico’s debt crisis before the critical July 1 deadline for the island territory’s next debt payments.

“The Senate should take up the matter immediately,” Lew said in a letter to Senate Majority Leader Mitch McConnell. “Delay will only jeopardize the ability of Congress to conclude its work before July 1, a critical deadline Puerto Rico’s leadership has publicly highlighted for months.”

Reporting by Susan Heavey and Dan Bases; Editing by Chizu Nomiyama

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