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Reports: Puerto Rico has defaulted, owes more than $1BILLION 1 July

SAN JUAN — Big trouble on the horizon for Puerto Rico. According to island news reports,  the once beloved island nation that quickly became part of the United States has defaulted on its bills.  Reports indicate that  Puerto Rico has defaulted on the $370m it didn’t get from creditors and the like, something, that has just about spelled economic doom for the island.

Economists say that Puerto Rico actually owes more than $1billion come 1 July, and, if by all means they default on that payment — there’s no telling “what will happen to Puerto Rico”.   Puerto Rican officials defied orders to cut social services for its people that would have included closing schools and hospitals, which, would have allowed them to mostly cover their bills.

 

The Government Development Bank had more than $422 million in payments due Monday, but was only given a meager comparison to that amount that brought the amount due to about $370m.

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Sultan Khan & Amaral Jade
Sultan And Amaral Khan are respectively the Senior Editors and the Editor In Chief of The Daily News. The Khan's cover dozens of topics in their duties, and, serve over an editorial staff of 5. To contact Sultan Khan The Editor In Chief - Sultank91@icloud.comTo contact our newsroom: contact@bazaardaily.co.uk
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