Financial Crisis Worries Head to Virgin Islands While Puerto Rico Recovers
The United States Virgin Islands are a U.S. territory. It’s known for its white-sandy beaches with clear crystal waters and verdant hills. The main islands consist of St. Croix, St. John and St. Thomas and are all unique with adventurous things to do with 1.5 million tourists visiting this small American territory for over the past years. Only 400 miles away another territory of United States, Puerto Rico its neighbor, are similar in culture, climate and is under the same administration the United States of America. USVI government officials scramble to stave off the same kind of fiscal collapse that its neighbor Puerto Rico has encountered. The general debts of the Virgin Islands are smaller than those in Puerto Rico, which effectively made them declare bankruptcy two months ago during May 2017. Then it’s population of 3.4 million and its ability to pay. Compare to this unique territory of roughly 106,000 people, which owes $65 million to creditors and pensioners. They’re combi