Analyst Peter Schiff on Puerto Rico’s debt crisis

Global Business

Puerto Rico’s governor is preparing to call in the lawyers. The Caribbean island is sitting on a $72 billion debt and defaulted on some of it again this Monday.

The country did meet tens of millions in interest payments, and some of its bonds rallied a bit, which means some investors are still willing to take it on.

But the U.S. Commonwealth is still running on fumes. Its governor says there’s not enough money to keep public services going.

CCTV America’s Owen Fairclough interviewed Peter Schiff, president and CEO of Euro Pacific Capital, about the latest in Puerto Rico.

Analyst Peter Schiff on Puerto Rico's debt crisis

Analyst Peter Schiff on Puerto Rico's debt crisis

Puerto Rico’s governor is preparing to call in the lawyers. The Caribbean island is sitting on a $72 billion debt and defaulted on some of it again this Monday. The country did meet tens of millions in interest payments, and some of its bonds rallied a bit, which means some investors are still willing to take it on. But the U.S. Commonwealth is still running on fumes. Its governor says there’s not enough money to keep public services going. CCTV America’s Owen Fairclough interviewed Peter Schiff, president and CEO of Euro Pacific Capital, about the latest in Puerto Rico.