The White House says there will not be any sort of federal bailout program for its territory Puerto Rico, after the island's governor announced it cannot pay some $72 billion in municipal debts.
White House Spokesperson Josh Earnest said, however, that the US Treasury Department is working with Puerto Rican officials to help them manage the looming financial crisis.
He also said the White House is asking Congress to review whether the commonwealth should be allowed to qualify for what's called "Chapter Nine" status- a designation Puerto Rico could use to declare federal bankruptcy, currently only available to official US states.
White House Spokesperson Josh Earnest said Puerto Rico will not receive a federal bailout.
IN: "There's no-one..."
OUT: "...Puerto Rico."
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