Puerto Rico Finance Chief: Cuts and tax rises ahead

Puerto Rico's governor has said the US territory cannot pay its $72bn (£45bn) debt, and some are now calling the island "Greece of the Caribbean".

In a TV address last week, Alejandro Garcia Padilla said he would seek a moratorium on repayments and form a team to restructure public debts.

Meanwhile, White House spokesman Josh Earnest says the US government has ruled out a federal bailout for the US island.

Melba Acosta, head of the development bank which controls public finances, sat down with the BBC's Gary O'Donoghue in San Juan and told him that the administration has cut spending and raised taxes and will do so again.

Filmed and produced by the BBC's Paul Blake in San Juan, Puerto Rico.