Debt Payment Due for Puerto Rico Tuesday As Congress Holds Hearing

Puerto Rico Economy
AP

There’s been little relief since Puerto Rico’s governor declared the U.S. territory’s $72 billion debt unable to be paid, according to NBC News.

Backers of proposals to allow Puerto Rico to restructure its debt through a bankruptcy process often used by U.S. cities were to begin gathering in Washington, D.C.

A Senate committee was to hold another hearing on the crisis. Governor Alejandro Garcia Padilla will be a witness at a 10 a.m. hearing held by the Senate Judiciary Committee.

As of Monday, Puerto Rico was undecided on whether to let the deadline pass without payment, thereby defaulting and possibly setting off a court battle. That decision would be made on Tuesday, NBC News reported.

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