Puerto Rico Governor Says Shutdown Won’t Prevent July 1 Default
- Garcia Padilla says commonwealth doesn’t have cash to pay
- Bonds gain amid expectations Congress will approve bill
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Eight days before about $2 billion in bond payments come due, Puerto Rico Governor Alejandro Garcia Padilla reiterated that the commonwealth will default on its general obligations even if he halted services on the island.
“If I shut down the government, I will not have enough money to pay,” Garcia Padilla said Thursday during a panel discussion at the Center for American Progress Action Fund in Washington.