Puerto Rico to be subject of U.S. House committee hearing on January 12

NEW YORK (Reuters) - Puerto Rico will be the subject of two hearings by the U.S. House of Representatives in January, a spokesman for the House Committee on Natural Resources said on Monday, with the first to be held next week. The U.S. territory, struggling with around $70 billion of debt, said last week it would default on some debt due on Jan. 1, following its first default in August. The U.S. House speaker, Republican Paul Ryan, has instructed committees to work with Puerto Rico's government to come up with a solution to the island's financial problems, which he has said should be crafted by the end of March. The first House hearing on Puerto Rico will be held on Jan. 12, followed by a second the week of Jan. 24, the spokesman for the House Committee on Natural Resources said. The first hearing is being held by the committee's Subcommittee on Energy and Mineral Resources and the second hearing will held by the Subcommittee on Indian, Insular and Alaska Native Affairs, the spokesman said. (Reporting by Megan Davies and Nick Brown; Editing by Diane Craft)