Can Puerto Rico escape its $72 billion debt trap and avoid Greece's fate?
- Written by The Conversation Contributor
To almost no one’s surprise, Puerto Rico missed a US$422 million debt payment earlier this month, triggering fears among investors that additional defaults are on the way and increasing pressure on Congress to act.
The warnings that this would happen could hardly have been louder. The major credit rating agencies long ago cut Puerto...
Read more: Can Puerto Rico escape its $72 billion debt trap and avoid Greece's fate?