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.