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Puerto Rico defaulted on debt of its PFC bonds on Monday by paying only a fraction of what was due, showing the depth of the island’s economic and cashflow problems and potentially opening the door to broader defaults and litigation from bondholders.

Members of Connecticut’s Puerto Rican community met in Hartford on Friday with U.S. Senators Chris Murphy and Richard Blumenthal to discuss Puerto Rico’s debt crisis. While I believe numerous politicians calling for Chapter 9 both on the mainland and the Island have...

Look, for example, at consumption per capita, which has fallen 30 percent in Greece but has actually continued to rise in Puerto Rico.

The government of Puerto Rico confirmed Monday that it had failed to make a $58-million debt payment, a significant escalation of the fiscal crisis facing the U.S. island territory.

The funds commissioned a report from former worldwide Monetary Fund (IMF) economists misleadingly titled, “For Puerto Rico, There is a Better Way”. The hedge funds’ suggestions come at a time when 56 percent of Puerto Rican children live in poverty and hundreds...

NEW YORK, July 21 Another two Democratic senators have agreed to co-sponsor a bill that would allow Puerto Rico’s municipalities to use Federal bankruptcy laws, the U.S. territory’s representative in Congress Pedro Pierluisi said in a statement on Tuesday.

However, the Recovery Act was rejected by a federal court in Puerto Rico back in February after public utility PREPA bondholders, including Franklin Advisers, Oppenheimer Holdings Inc.