U.S. not contemplating a federal bailout of Puerto Rico: White House

Reuters News
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Posted: Jun 29, 2015 1:14 PM

WASHINGTON (Reuters) - The United States government is not contemplating a federal bailout of Puerto Rico to help the island deal with its debt crisis, the White House said on Monday.

White House spokesman Josh Earnest said federal officials are, however, committed to working with the island.

Puerto Rico is struggling with $73 billion in debt and a report released by former IMF staffers on Sunday proposed debt restructuring and tough austerity measures.

(Reporting by Lindsay Dunsmuir; Editing by Bill Trott)