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Puerto Rico

All eyes were on Detroit earlier this month as Federal Judge Steven Rhodes ruled that the city could discharge public pensions, along with other debt, as it restructures under Chapter 9 bankruptcy.

While other cities look at the ruling as a viable—though unfortunate—solution for their financial woes, there is one especially troubled economy that will not be able to take advantage of the ruling, or file for bankruptcy at all: Puerto Rico.

East Harlem—also known as Spanish Harlem or El Barrio—located in northeastern Manhattan, has long been a destination for immigrants settling in New York City.

As the U.S. government’s shutdown stretches into its second week, local economies everywhere are suffering—but perhaps none as acutely as Puerto Rico.

Top stories this week are likely to include: Chávez designates successor as he heads to Havana; Puerto Rico convenes legislature for statehood; Arab-Latin American Forum in Abu Dhabi; and impact of recent energy takeover deals in Canada.

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