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Puerto Rico to default on debt payment after talks fail

Puerto Rico has halted a $422m (£289m) debt payment due on Monday after talks to ease the US territory’s crisis ended without a deal.

Governor Alejandro Garcia Padilla said in a televised speech he had issued an executive order suspending payments.

He described it as a “painful decision”, but had been warning since last year that…

Source: Puerto Rico to default on debt payment after talks fail – BBC News

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