I'm an accountant and do not think this is the end or even a bad thing necessarily. I know PR is attached to the US Dollar but any dollar has to originate and then be entered into the economy, which is usually done by crediting/lending institutions.
If you look at the entirety of the economy, bankruptcy is inevitable to some level or money has to be made somewhere. There is simply too much cash flow at any given time to say what countries owe what to who because if every country was debt free then there would be absolutely no currency.
Even Trump has filed bankruptcy FOUR times, including defaulting entirely on a multi-billion dollar loan but he gained value through the process. I'm not saying anyone should accept defaulting on any payments but the effects of looking at an entire economy are not necessary the same. The first time PR asked for money, the value of the dollar in PR was then multipled on top of itself every time additional currency was acquired from the US. If PR was going to completely get out of debt, then it would need a large amount to be shot straight into the economy, just like this.
There is so much more to it and nobody knows what will happen, just like we don't know what the stock market will do at a sound of a bell.
If you look at the entirety of the economy, bankruptcy is inevitable to some level or money has to be made somewhere. There is simply too much cash flow at any given time to say what countries owe what to who because if every country was debt free then there would be absolutely no currency.
Even Trump has filed bankruptcy FOUR times, including defaulting entirely on a multi-billion dollar loan but he gained value through the process. I'm not saying anyone should accept defaulting on any payments but the effects of looking at an entire economy are not necessary the same. The first time PR asked for money, the value of the dollar in PR was then multipled on top of itself every time additional currency was acquired from the US. If PR was going to completely get out of debt, then it would need a large amount to be shot straight into the economy, just like this.
There is so much more to it and nobody knows what will happen, just like we don't know what the stock market will do at a sound of a bell.
Best of luck thou