Former IMF economists give damning assessment of Puerto Rico economy

Unverified report tells Caribbean nation it 'faces hard times' and 'a crisis looms' and it must restructure debts to bridge coming financing gaps

The struggling Caribbean island Puerto Rico needs to restructure its debts to bridge financing gaps in coming years, in what could be a precedent-setting move, according to a copy of a report by former IMF economists posted on websites of the island's media.

Puerto Rico's governor's office and a spokesman for the Government Development Bank (GDB), which commissioned the report, were not immediately available to comment on the authenticity of the posted document.

Related: Puerto Rico in crisis: weighed down by $73bn debt as unemployment hits 14%