Updates on the debt crisis in Puerto Rico
Puerto Rico’s current situation is unique in that it is not a sovereign nation and therefore cannot request financing or a low-interest loan from the IMF (International Monetary Fund), but neither does it have access to the municipal bankruptcy protections afforded to US cities and states (i.e. Detroit declared bankruptcy in 2013) to help alleviate their more than $70 billion debt. Puerto Rico is inching closer to defaulting on its loans and has been asking Congress and the US government for help.
Below are news articles pertaining to the current debt crisis in Puerto Rico.
Jubilee USA: Lawmakers Pledge “Omnibus” No Votes Until Puerto Rico Bankruptcy Protection is Included
Washington Post: Congress might actually do something about Puerto Rico’s debt crisis next year
SCOTUSblog: Court to rule on Puerto Rico debt-relief options
LatinOne: Puerto Rico Now Bankrupt? What the US Congress Plans To Do