Puerto Rico cannot repay the debts that it has therefore it will not repay them. The only interesting questions are therefore who is going to lose money and how much, not whether money is going to be lost. They can't default, devalue and then grow their way out of the problem either, as in a standard IMF plan. Money has been lent and it isn't--all--going to get paid back. The only things to argue about now are who loses and how much, not whether there are going to be those losses which have already happened.

Source: Forbes April 30, 2017 17:12 UTC