Puerto Rico Avoids 11th Hour Debt Payment Default
  • 8 years ago
Puerto Rico narrowly averted a default on the island's US$1 billion debt when Governor Alejandro Garcia make a last minute payment to creditors. The payment was made with funds allocated to public services, so the underlying problem of Puerto Rico's insolvency remains. Garcia appealed to the U.S. Congress for help in overcoming the crisis. teleSUR