Puerto Rican Debt Situation a Result of Territory Status

teleSUR English 2015-07-15

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The economic crisis in Puerto Rico continues to worsen as factors like increased migration due to high unemployment rates and the lack of engagement in the workforce add to the growing debt crisis now reaching US$73 billion. A large portion of the debt comes from the island’s status as a territory, which currently prevents cities and public corporations from declaring bankruptcy. Some observers believe the United States government should provide Puerto Rico with more a higher level of autonomy. Bianca Perez reports from Washington DC for teleSUR.

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