Puerto Rico is facing a big financial problem! Its power company owes a lot of money, about $9 billion. The government can only pay back a smaller amount, around $2.6 billion. This is because the island has been struggling financially for years and recently went through a huge bankruptcy.
- Puerto Rico's power company is deeply in debt.
- The government is trying to work out a deal with lenders.
- They offered to pay back only part of the debt.
- Raising electricity prices isn't an option because of already high bills.
| Item | Amount |
|---|---|
| Debt owed | $9 billion+ |
| Government's offer | $2.6 billion |
| Bondholders' demand | $8.5 billion (initial), $12 billion (with interest) |
| Needed grid investment | $25 billion |
