Puerto Rico Nears Next Big Default

The transcript discusses the Senate's vote on a bill to aid Puerto Rico amidst its financial crisis. A surprise announcement was made about a potential default on general obligations. The PROMESA bill, which aims to restructure Puerto Rico's debt and establish a Control Board, is detailed. Despite the bill, the governor may still default due to insufficient funds for essential services. Senator Menendez plans to propose an amendment, though its details are unclear. The economic crisis has severely impacted Puerto Rico's local economy and healthcare system, with hospitals struggling to operate.

What role will the Control Board play in Puerto Rico's financial restructuring?

What are some of the consequences faced by hospitals in Puerto Rico due to the financial crisis?