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Puerto Rico Defaults on $400 Million Payment

The governor of Puerto Rico says the island is defaulting on a $422 million debt payment due Monday, and he says the U.S. is partly to blame. Garcia Padilla said in a televised speech Sunday to the island's 3.5 million residents that he has made the "painful decision" to not pay the island's creditors, but will instead fund public sector salaries and health and education budgets to avoid a "humanitarian crisis." "I have decided that your basic needs are...

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