puerto: Weighed down by nearly 72 billion in debt, Puerto Rico struggled with liquidity even before the most powerful hurricane in almost 90 years wiped out the island's power grid, homes and other infrastructure nearly three weeks ago, according to The Japan Times. It will take months and billions of dollars to rebuild the grid, and the impacts of the storm have cratered the economy of Puerto Rico, home to 3.4 million American citizens, which declared bankruptcy in May. The request came as the oversight board charged with resolving Puerto Rico's debt crisis warned the U.S. territory was at risk of being unable to pay for essential services such as salaries for teachers, first responders and health care providers. ; The best estimate of the Financial Oversight and Management Board FOMB and government is that the commonwealth will run out of money at the end of this month, the board told U.S. Treasury Secretary Steven Mnuchin in a letter on Tuesday evening. Puerto Rico Governor Ricardo Rossello had warned two weeks ago that his government was in a bind and would need lines of credit. The proposed community disaster loan would include a 150-million advance, the Trump administration official said, speaking on condition of anonymity. Trump's loan proposal was an important first step for the transformation of Puerto Rico, Rossello said on social network Twitter on Tuesday.
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