Puerto Rico to default on debt payment after crisis talks fail![]() May 2, 2016 - 16:42 AMT PanARMENIAN.Net - Puerto Rico has halted a $422m debt payment due on Monday, May 2 after talks to ease the U.S. territory's crisis ended without a deal, BBC News reports. Governor Alejandro Garcia Padilla said in a televised speech he had issued an executive order suspending payments. He described it as a "painful decision", but had been warning since last year that the island's public debt of more than $70bn was unpayable. The U.S. Congress has tried without success to agree a solution. "Let me be very clear, this was a painful decision," Mr Garcia said in a speech. "We would have preferred to have had a legal framework to restructure our debts in an orderly manner." He acknowledged before the weekend that if the payment was not made, it was likely to spark legal action from creditors. A further debt payment of $1.9bn is due in July. ![]() ![]() Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. ![]() ![]() Partner news | ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |