Obama administration urges Congress to act on Puerto Rico crisis

[May 03, 2016]    WASHINGTON (Reuters) - The Obama administration urged Congress to pass legislation to help Puerto Rico resolve a debt crisis which was expected to trigger a bond default on Monday.

"Congress has yet to produce a workable legislative response," Treasury Secretary Jack Lew said in a letter to Paul Ryan, the Speaker of the House of Representatives. "Congress must work quickly to resolve the few outstanding issues on the proposed legislation to help Puerto Rico."

(Reporting by Jason Lange; Editing by Nick Zieminski)

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