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How US$74b in bonds bankrupted Puerto Rico

The island squandered tens of billions it borrowed on grand projects, everyday expenses and bureaucracy


SAN Juan's gleaming commuter train seemed like a coup - the kind of big-ticket item many US cities can only dream of.

More than a decade on, the Tren Urbano is a monument to the folly, bloat and abuse that finally bankrupted Puerto Rico. Despite years of planning, it...

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