White House not mulling Puerto Rico bailout, U.S. official says

WASHINGTON Wed Jan 22, 2014 4:19pm EST

WASHINGTON Jan 22 (Reuters) - The White House is not currently considering a bailout for Puerto Rico, where chronic financial challenges have raised the specter of a Detroit-like bankruptcy, a White House official said on Wednesday.

"The President's Task Force continues to partner with the Commonwealth to strengthen Puerto Rico's economic outlook and to ensure that it is taking advantage of all existing federal resources available to the Commonwealth," White House spokeswoman Katherine Vargas said in an email.

"There is no deep federal assistance being contemplated at this time," she said.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.