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Puerto Rico skips bond payments, says Congress must help

By Associated Press
· Updated January 16, 2025 12:12 AM · 3 min read read
Puerto Rico skips bond payments, says Congress must help

SAN JUAN, Puerto Rico (AP) — A spiraling Puerto Rico debt crisis reached a new milestone as the island commonwealth missed nearly $370 million on a bond payment Monday and officials warned of worse to come if Congress doesn't help it dig out from a mountain of $70 billion in obligations. The default was the largest in a series of missed payments by the struggling U.S. territory since last year and Gov. Alejandro Garcia Padilla warned it was unlikely to be the last.

SAN JUAN, Puerto Rico (AP) — A spiraling Puerto Rico debt crisis reached a new milestone as the island commonwealth missed nearly $370 million on a bond payment Monday and officials warned of worse to come if Congress doesn't help it dig out from a mountain of $70 billion in obligations. The default was the largest in a series of missed payments by the struggling U.S. territory since last year and Gov. Alejandro Garcia Padilla warned it was unlikely to be the last.…

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