There are claims that the GDB's default is a huge blow to local bondholders, but the government claims the people are the priority
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The suspension on interest payments by the Government Development Bank (GDB), as well as the default incurred this week on other bonds issued by the government, will represent a "huge impact" for thousands of people in Puerto Rico who need this source of income to survive, and it will negatively affect the stability of the Island's credit union sector.
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