US withholds hurricane emergency loan sought by Puerto Rico

US withholds hurricane emergency loan sought by Puerto Rico

A billion-dollar emergency loan approved by Congress to help Puerto Rico deal with the effects of Hurricane Maria has been temporarily withheld by federal officials who say the U.S. territory is not facing a cash shortage like it has repeatedly warned about in recent months.Officials with the Federal Emergency Management Agency and the Treasury Department said in a letter to the director of the island's fiscal agency that Puerto Rico has had a central cash balance exceeding $1.5 billion in th...