Why Puerto Rico is struggling with $400 billion debt crisis

SAN JOSE — Puerto Rico’s debt crisis is taking a toll on its economy.

Its economy shrank 1.4 percent last year, its debt burden has surged to more than $400.4 billion and its government is under a federal deadline to slash its debt by 30 percent of GDP by January, according to a report released Tuesday.

In addition, its government, which relies heavily on public and private bond financing, has borrowed more than twice as much to pay its bills this year than it needs to, according the report from the non-partisan Congressional Budget Office.

Puerto Rico’s government debt, which has risen from $18.6 billion in fiscal year 2017 to $25.8 billion in 2019, has ballooned from $8 billion to more then $19 billion, according a recent report from The New York Times.

It also has lost an estimated $1.2 billion in revenue since 2016, according an analysis by the Wall Street JournoList.

It has spent more than 2.3 times as much on debt servicing than it earns, the report found.

The island of 2.2 million people has a $1 trillion debt burden, about $400 per capita, according its 2017-18 financial report.

Puerto Rico lost $8.3 billion in state revenue as a result of the island’s bankruptcy, according figures from the federal government.

Puella, a city of less than 5,000 people in the Caribbean nation, is facing the most serious crisis of its kind.

The state is the most populous in the U.S. with about 7 million residents.

The economy has shrunk 2.7 percent in the past two years, according data from the U-M Center for Puerto Rican Studies, and its public debt has climbed to $19.6 bn.

That’s almost a fifth of the nation’s total debt.

The state has more than 4,200 employees in the private sector, according research from the McKinsey Global Institute.

The city of 684,000 has about 6.5 million residents, according Bloomberg.

Pilgrim island: An island with more than 7 million people but little infrastructure, a low-paid job market and a dire need for billions of dollars in infrastructure improvements.

Pulitzer-winning Puerto Rico documentary film: Puerto Rico, a U.N. refugee camp in the middle of the Caribbean, became the focus of a film by Oscar-winning filmmaker, Laura Poitras, about the islanders’ struggles with unemployment and poverty and the devastating effects of Hurricane Maria.

The film, which premiered in May at the Tribeca Film Festival, was made with a $30 million federal grant and was funded by the George Soros-backed Global Fund to Fight Poverty.

Poitras made the documentary with her husband, filmmaker and producer Ben Affleck.

It is scheduled to be released in 2019.

It will be available in the United States, Canada, the United Kingdom, Ireland, Denmark, Sweden and Germany.

Pauper, the film that tells the story of Puerto Ricans plight, is scheduled for release in 2019.(AP Photo/Richard Drew)The government is also under a deadline of Feb. 2 to reduce its debt from $19 trillion to 30 percent by 2017, according, the CBO.

That means it has $867.9 billion in debt, compared to $1,723.6.

The budget for the fiscal year that began July 1, 2019, is $7.9 trillion, according.

The budget would not include a debt relief package, which would have allowed Puerto Rico to borrow to pay for other services and boost revenue.

Poverty, a major driver of Puerto Rico economic growth, has risen sharply in the aftermath of Maria.

According to the latest census data, Puerto Ricos population fell from 4.7 million in fiscal 2017 to 3.4 million in 2019 as a direct result of Maria, which left about 20 percent of the territory without electricity.

The U.s.

Census Bureau says Puerto Rico has about 1.3 million residents but the government has an estimated 8,000.

The poverty rate for Puerto Ricas residents is 16.5 percent.