Now on the debt hit parade comes Puerto Rico. Puerto Rico is a US territory, so if it defaults, this time the contagion will be personal. You can't go on forever spending other people's money, building up debt and blithely
The declaration by Puerto Rico's governor that the island's $72 billion in debt is “not payable” was not only a warning to its creditors. It was also aimed at leaders in Washington, who perhaps more than anyone could determine whether Puerto Rico's
Meanwhile, Puerto Rico became the front of a new crisis, with Gov. Alejandro García Padilla saying in a televised address Monday evening that the island could not pay back at least $73 billion in debt. García Padilla said he would seek a deal with
SAN JUAN, Puerto Rico (AP) – The governor has called on creditors to postpone bond payments and restructure the U.S. territory's $72 billion in public debt as the government closes out its fiscal year Tuesday amid growing uncertainty about the island's
NEW YORK (TheStreet) — Puerto Rico's Governor Alejandro Garcia Padilla says the island's debts of more than $70 billion are "not payable." He says the commonwealth is in a "death spiral." Per capita, Puerto Rico has built up more municipal bond debt