Puerto Rican Entrepreneurs Get Creative as Debt Crisis Mounts

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Puerto Rico is $70 billion in debt, and yesterday it missed a major bond payment. The U.S. territory has temporarily staved off a lawsuit from creditors by negotiating a 30 day deadline to reach an agreement.

When dividing things among the island's 3.5 million residents, the government debt totals up to be about $20,000 per person. That is striking given that the average annual income in Puerto Rico is $19,000 — about $30,000 less than the average in the rest of the United States.

Governor Alejandro García Padilla said over the weekend that he would protect essential services to residents rather than pay the debt, but there's another deadline looming on July 1 with $1.9 billion dollars due.

But the Puerto Rican people are still hustling and trying to find an opportunity in the crisis. Angiemille Latorre, co-founder of Seriously Creative, a creative problem solving firm that helps businesses improve through team building, research and workshops, explains how Puerto Ricans are trying to get through the crisis.