Puerto Rico's Looming Debt Deadline: Will Congress Help?

Puerto Rico faces a complex debt crisis, with the government Development Bank (GDB) at the center. The GDB has been crucial in structuring municipal bond deals, but now faces potential default. Negotiations are ongoing in Puerto Rico and Washington to address upcoming payment deadlines. The situation is intricate, with possible legal actions looming if payments are missed, particularly the significant $2 billion due on July 1st.

What discussions are taking place in Washington regarding Puerto Rico's financial issues?

In what ways could the potential default affect negotiations with creditors?