For the second time in five months, Puerto Rico has defaulted on its debt obligations, attributing it to struggling economy.
Governor Alejandro Padilla previously said it would pay most, but not all, of the almost $1 billion it owed through special financial measures. He added the US territory cannot pay the entire amount.
As of present, Puerto Rico has a total debt load of approximately $70 billion. They made the largest payment on the general obligation debt, which amounted to $328.7 million.
Meanwhile, the US Congress is slated to discuss the matter in the coming weeks.
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