Puerto Rico's financial landscape

Puerto Rico's financial landscape has faced significant challenges, particularly due to longstanding economic struggles, high public debt, and the impact of natural disasters. The island filed for bankruptcy in 2017, reflecting its inability to pay debts, which exceeded $70 billion. Key factors include a shrinking population, limited job opportunities, and reliance on federal aid. The government has sought restructuring solutions while balancing public services and economic recovery efforts. Recent developments have focused on revitalizing the economy, attracting investment, and addressing social needs, all while navigating complex legal and financial frameworks established by U.S. federal oversight.