By Web Editors 

Puerto Rico may finally be getting help with its debt.

The island has more than $70 billion in debt, and recently defaulted on a $422 million payment. Puerto Rico is effectively unable to pay most of this debt, and before May 18, U.S. lawmakers hadn't been able to agree on a deal to help the territory.

But now Speaker Ryan Paul has struct a compromise deal with the Department of Treasury to help Puerto Rico restructure its debt and establish a financial oversight board.

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"Congress should pass this Puerto Rico debt legislation as soon as possible. There can be no economic growth in Puerto Rico until the debt is restructured," said Eric LeCompte, head of Jubilee USA, a religious development coalition.

“As the approval process in Congress moves forward we will work on some improvements. We need clear targets to reduce child poverty on the island. We want legislation that protects ordinary workers. We want local democracy to be protected."

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