Commentary
Is there life after debt for Puerto Rico?
For years Puerto Rico borrowed to offset falling revenues as its economy and population declined. This was never sustainable, and now the moment of reckoning has arrived.
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Commentary
For years Puerto Rico borrowed to offset falling revenues as its economy and population declined. This was never sustainable, and now the moment of reckoning has arrived.
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To almost no one's surprise, Puerto Rico missed a US$422 million debt payment earlier this month, triggering fears among investors that additional defaults are on the way and increasing pressure on Congress to act.