Puerto Rico leader to address $72 billion debt

June 29, 2015 2:48 PM

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Puerto Rico Gov. Alejandro García Padilla is scheduled to address island residents early Monday evening to explain why his administration can't pay back some $72 billion in public debt.

The announcement is sure to affect the international financial system, which is already wobbling from a possible default by Greece. What it means for the island's 3.6 million residents remains to be seen.

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