Puerto Rico Debt Crisis: A Bond Guide as Potential Defaults Loom
- Commonwealth faces $500 million cash shortfall in June
- Government Development Bank owes $354 million in December
Pedestrians walk along Calle Fortaleza in Old San Juan, Puerto Rico, on Aug. 14.
Photographer: Derick E. Hingle/BloombergThis article is for subscribers only.
Puerto Rico will begin sitting down with creditors in the next few weeks after the financially stressed commonwealth said it’s short about $13 billion needed for bond payments in the next five years.
In a government-sponsored report released Wednesday, Puerto Rico was unclear what debt would be affected in a restructuring of its $72 billion in obligations, only saying that it would present bondholders with terms soon and that it wants a moratorium on principal payments.