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Puerto Rico Defaults on Debt to Pay Public Services


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Puerto Rico Defaults on Debt to Pay Public Services

Jubilee USA

WASHINGTON - The government of Puerto Rico says it will default on most of $422 million in debt payments due. This would be the third time Puerto Rico missed debt payments in the past 9 months and would be its largest default to date. Puerto Rico Governor Alejandro García Padilla announced the missed payments May 1 in a televised address and implored Congress to give Puerto Rico legal tools to restructure its debt.

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