Puerto Rico will default on $37 million in payments owed to creditors

SAN JUAN, Puerto Rico (AP) — Puerto Rico will default on $37 million in payments due to creditors Friday, while it will make $594 million in other payments owed next week, the U.S. commonwealth's governor said Wednesday. Gov. Alejandro Garcia Padilla said that the payments to be made include $329 million to holders of general-obligation bonds. He said there is no money to make a $400 million payment that will come due in May on Government Development Bank bonds.

SAN JUAN, Puerto Rico (AP) — Puerto Rico will default on $37 million in payments due to creditors Friday, while it will make $594 million in other payments owed next week, the U.S. commonwealth's governor said Wednesday. Gov. Alejandro Garcia Padilla said that the payments to be made include $329 million to holders of general-obligation bonds. He said there is no money to make a $400 million payment that will come due in May on Government Development Bank bonds.…