Puerto Rico has a total of 73 billion euro debt. Already in mid-June had announced the country, its creditors no longer be able to pay. Now for the first time an overdue principal and interest payment was not served. Moody’s regards this as default
The debt crisis associated with the US Caribbean island of Puerto Rico has reached a new peak. As the US rating agency Moody’s announced on Monday , Puerto Rico on Saturday could not repay matured bonds on time.
“Moody’s evaluates this event as a default,” said the vice-head of investor service of the credit rating agency, Emily Raimes. It should be assumed that further defaults followed
58-million dollar payment was due -. And not paid
Puerto Rico had reportedly $ 58 million (53 million euros ) must pay to principal and interest payments, but could muster only a part of it. This shows that Puerto Rico does not have the means, “all his impending debt repayments to make.”
The rating agency Standard & amp; Poor’s had already mid-July declared a bust of the Caribbean island was “virtually assured”.
Wolfgang Schäuble has the US Greece in exchange for Puerto Rico at
A total of 73 billion debt
The Government of Puerto Rico had announced the end of June, to be able to no longer service their debt of around 73 billion dollars, to us therefore negotiate with creditors. Puerto Rico was a Spanish colony until 1898 and is like some other Caribbean islands with the United States associated.
The residents of Puerto Rico have since the year 1917, the US Citizenship and serve in the army, are in the US but not entitled to vote or tax.
The island’s economy has been shrinking for seven years. Because of the special status of Puerto Rico can not officially file for bankruptcy, with its 3.5 million inhabitants. A default could therefore draw years of negotiations by itself to resolve the crisis.
Forget times briefly Greece! This country is really broke
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