Puerto Rico has asked Washington to allow it to declare municipal bankruptcy after announcing it won’t be able to pay back its $72 billion in public debt. On Monday, Governor Alejandro García Padilla said the struggling island needs Washington’s help.

Gov. Alejandro García Padilla: “It is the moment for us to speak in one voice to demand concrete action from Washington, action from Washington now, action so that they finish approving the changes to Chapter 9 and so that Puerto Rico can count on the same protection that other jurisdictions have.”

A report Monday said Puerto Rico’s financial outlook is unsustainable, with insufficient revenues, high migration and a heavy financial burden to meet its obligations as a U.S. territory. At the White House, Press Secretary Josh Earnest ruled out a bailout but suggested Puerto Rico could be eligible for bankruptcy protections.

White House Press Secretary Josh Earnest: “There’s no one in the administration or in D.C. that’s contemplating a federal bailout of Puerto Rico, but we do remain committed to working with Puerto Rico and their leaders as they address the serious challenges, serious financial challenges, that are currently plaguing the commonwealth of Puerto Rico. The Treasury Department and other administration officials have been engaged with Puerto Rico to try to help them get access to all available and existing federal resources. And the Treasury Department, over the last year or two, has shared its expertise with local officials in Puerto Rico.”

As part of its debt crisis, Puerto Rico will likely be forced into major cuts to government services and massive layoffs, adding to its 14 percent unemployment.