Puerto Rico Files For Bankruptcy

People carry a large Puerto Rican flag
People carry a large Puerto Rican flag as they protest looming austerity measures amid an economic crisis and demand an audit on the island's debt to identify those responsible, in San Juan, Puerto Rico, Monday, May 1, 2017. Puerto Rico is preparing to cut public employee benefits, increase tax revenue, hike water rates and privatize government operations, among other things. (AP Photo/Danica Coto)
People carry a large Puerto Rican flag
People carry a large Puerto Rican flag as they protest looming austerity measures amid an economic crisis and demand an audit on the island's debt to identify those responsible, in San Juan, Puerto Rico, Monday, May 1, 2017. Puerto Rico is preparing to cut public employee benefits, increase tax revenue, hike water rates and privatize government operations, among other things. (AP Photo/Danica Coto)

Puerto Rico Files For Bankruptcy

Nearly one year to the day after Puerto Rico defaulted on over $400 million in debt payments on its $72 billion in liabilities, the U.S. territory placed its debt into federal bankruptcy court

Human rights observers say the focus on money distracts from the suffering of the Puerto Rican people caused by austerity measures. 

We get the latest from Eric LeCompte, executive director of Jubilee USA, an alliance of non-governmental agencies and faith communities advocating for economic and social justice.