Island commonwealth faces close to $1bn in interest payments in 2016 but governor says it will do ‘all it can’ to avoid shutting down government servicesPuerto Rico has sprint out of time and money and will default on $37m of its debt repayments on 1 January,Governor Alejandro Padilla confirmed on Wednesday.
The troubled commonwealth is at loggerheads with investors over plans to restructure $70bn in debts that believe triggered a financial crisis on the island leading to mass migration, school closures and escalating unemployment and poverty. Continue reading...
Source: theguardian.com