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Puerto Rico files for the largest local government bankruptcy in U.S. history, announcing a historic debt restructuring. Facing substantial defaults on its bonds, Puerto Rico takes steps to address its $70 billion debt burden, potentially impacting pensions, worker benefits, and essential services. The bankruptcy filing may have implications for the island's economy and future access to debt markets, aiming to alleviate the ongoing financial challenges faced by Puerto Rico.
Tuesday, 2 May, 2017