Detroit submits plan to settle $18bn debt
The plan to pull the city out of the biggest public bankruptcy in American history will cut pensions and spending.
Published On 22 Feb 2014
The US city of Detroit has submitted a plan to pull itself out of the biggest public bankruptcy in American history.
It wants to settle its $18bn debt by making cuts to pensions and spending.
But the plan still needs approval from a judge.
Al Jazeera’s Bisi Onile-ere reports.
Source: Al Jazeera