White House not mulling Puerto Rico bailout, U.S. official says

Reuters News
Posted: Jan 22, 2014 4:31 PM

WASHINGTON (Reuters) - The White House is not currently considering a bailout for Puerto Rico, where chronic financial challenges have raised the specter of a Detroit-like bankruptcy, a White House official said on Wednesday.

"The President's Task Force continues to partner with the Commonwealth to strengthen Puerto Rico's economic outlook and to ensure that it is taking advantage of all existing federal resources available to the Commonwealth," White House spokeswoman Katherine Vargas said in an email.

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"There is no deep federal assistance being contemplated at this time," she said.

(Reporting By Mark Felsenthal; Editing by Sandra Maler)