Puerto Rico is at risk of defaulting on a $400 million debt payment due May 1, 2016. House Speaker Paul Ryan pledged to have a plan ready by then to help Puerto Rico find a way to repay its debt. Many people have started predicting what a collapse of the Puerto Rican economy will mean for bond markets and the U.S. economy. There is currently a plan in Congress to set up a process to restructure Puerto Rico’s debt. Listen to learn more about this crisis and how it might be solved.
Story Length: 3:54
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