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Puerto Rico Nears Default As Deadline Looms03:45
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The Puerto Rico Capitol is pictured in San Juan. (jbash/Flickr)
The Puerto Rico Capitol is pictured in San Juan. (jbash/Flickr)
This article is more than 5 years old.

Puerto Rico is heading toward a default on Saturday, just weeks after Gov. Alejandro García Padilla in June told investors that the island's $72 billion in debt was unpayable.

The expected default over the weekend paves the way for a big fight with investors over what will be done with the country's debt.

Here & Now's Jeremy Hobson speaks with Cardiff Garcia of the Financial Times about what's in store for Puerto Rico's financial future.

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This segment aired on July 31, 2015.

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