Puerto Rico Governor May Comment on Debt in Risk of Default
- Commonwealth and its agencies owe $1 billion in January
- $357 million general-obligation payment due on New Year's Day
Will Puerto Rico Pay Up by Jan. 1?
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Puerto Rico Governor Alejandro Garcia Padilla will likely let bondholders know whether they’ll be paid or not at the start of the new year when he comments Wednesday on the commonwealth’s fiscal crisis and upcoming debt obligations.
Garcia Padilla, who said last week that making all the debt payments will be “almost impossible,” will speak in San Juan at 1 p.m. Eastern Standard Time, according to a statement. He has stressed repeatedly that if forced to choose between paying creditors and keeping essential services running, he will choose the latter.