Puerto Rico Defaults on $422 Million Bond Payment, Triggering Largest Municipal Debt Crisis in U.S. History
Governor Alejandro García Padilla ordered Puerto Rico’s first major default, blocking a $422 million payment on Government Development Bank bonds. This historic default was part of Puerto Rico’s unprecedented $72 billion debt crisis, representing debt larger than the island’s GDP. …
Alejandro García Padilla
Puerto Rico Government Development Bank
Puerto Rico Government
Hedge Fund Creditors
puerto-rico
debt-crisis
municipal-bankruptcy
financial-engineering
austerity
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