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Puerto Rico Defaults On $2 Billion In Debt Payments

July 1, 2016

Puerto Rico Defaults On $2 Billion In Debt Payments As expected, Puerto Rico will default on about $2 billion in debt payments Friday, including $780 million in constitutionally-backed general obligation bonds, as governor Alejandro Garcia Padilla has issued an executive order authorizing the suspension of payments. In addition, Garcia Padilla also declared states of emergency at the island’s […]

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Puerto Rico Faces “Public Unrest” As Cash Crunch May Leave Government Workers Unpaid

November 20, 2015

Puerto Rico Faces “Public Unrest” As Cash Crunch May Leave Government Workers Unpaid Heavily indebted Puerto Rico was due to meet with representatives of its creditors on Friday in a desperate attempt to forge ahead with a plan to restructure some $72 billion in debt. No offer is expected to be made at the meetings […]

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Is Puerto Rico the New Greece?

August 4, 2015

Is Puerto Rico the New Greece? While the world’s attention has been firmly fixed on Greece’s debt crisis and the “Grexit” threat, there is trouble brewing much closer to home. Staying largely in the Greek shadow, Puerto Rico is on the brink of defaulting on its debts. The parallels with Greece are unavoidable, and not […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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