Puerto Rico Faces Debt Deadline As U.S. Congress Holds Hearings

Six months since Puerto Rico’s governor declared the U.S. territory’s $72 billion debt unable to be paid, little relief has come its way as the U.S. Congress continues to hold hearings on what to do about its fiscal crisis.

The nervousness, anguish, outrage, opposition and congressional commiserating were on a collision course Tuesday, the deadline for a $354 million payment for Puerto Rico, and Wednesday.

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.

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