Fiscally troubled Central Falls, R.I., faces federal Chapter 9 bankruptcy if recommendations by the state-appointed receiver — which include annexation by a neighboring city — are not successfully implemented, according to a report released Thursday.

“State action is required if the city is to avoid fiscal collapse in its immediate future,” receiver Mark Pfeiffer wrote in the report. “Reform measures pertaining to pensions, retiree health benefits, and collective bargaining agreements included in this report will not be sufficient to restore the city to long-term health.”

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