Alejandro Garcia Padilla

Puerto Rico’s governor said Wednesday that it’s probable the U.S. territory will be unable to make more upcoming debt payments because it has no more money amid a worsening economic crisis.

Puerto Rico narrowly avoided a multimillion-dollar default on Tuesday by announcing a last-minute bond payment while warning that a deepening financial crisis has forced the government to divert money slated for future debt payments to avoid a shutdown of basic services.

Puerto Rico’s governor said Wednesday that it’s probable the U.S. territory will be unable to make more upcoming debt payments because it has no more money amid a worsening economic crisis.

Puerto Rico narrowly avoided a multimillion-dollar default on Tuesday by announcing a last-minute bond payment while warning that a deepening financial crisis has forced the government to divert money slated for future debt payments to avoid a shutdown of basic services.