SAN JUAN, Puerto Rico (AP) - Puerto Rico's government is releasing a long-awaited fiscal reform plan that would reduce part of the island's $72 billion public debt and calls for restructuring the remainder at the expense of bondholders.

SAN JUAN, Puerto Rico (AP) Puerto Rico's government is releasing a long-awaited fiscal reform plan that would reduce part of the island's $72 billion public debt and calls for restructuring the remainder at the expense of bondholders.

The five-year plan addresses $47 billion of the U.S. territory's debt, but leaves out debt held by Puerto Rico's troubled power company, as well as its water and sewer company.

Members of the group that worked on the plan said during a briefing that Puerto Rico's Government Development Bank would run out of money by the end of this year unless action is taken and warned that the government would face a liquidity crunch next year if the plan is not implemented.

The plan released Wednesday still requires approval by Puerto Rico's legislature and governor.