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Washington, D.C. – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today issued the following statement on draft legislation to address the island’s fiscal crisis: “Speaker Paul Ryan is correct – Congress has an unequivocal mandate to bring order and not allow Puerto Rico’s situation to devolve into a humanitarian crisis.  We welcome… read more

Washington, D.C. – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today called on the U.S. House of Representatives to act with speed and purpose on behalf of the 3.4 million Americans living in Puerto Rico.  Tomorrow, Congress will honor the U.S. Army’s 65th Infantry Regiment as the House Committee on Natural Resources… read more

Washington, D.C. – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today released the following statement on reports that U.S. House staffers are revising draft legislation to address Puerto Rico’s debt crisis and are considering scaling back the powers of the control board: “Puerto Rico is facing a catastrophic debt crisis that threatens… read more

Originally published by  The Hill April 11, 2016 Today, Puerto Rico is facing a fiscal disaster of epic proportions. Congress has been aware of this for some time now as hedge funds, financial advisors, administration officials and business owners have called on Washington to act over the last year.  Although it is of utmost importance… read more

Washington, D.C. – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today called on members of Congress to stand with Americans living in Puerto Rico against special interest efforts to block action to address the island’s debt crisis. “Puerto Rico is facing a humanitarian crisis of unprecedented proportions, and Congress is duty-bound to act with speed… read more

Washington – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today released the following statement on draft legislation being considered by House Republicans to address Puerto Rico’s economic crisis: “On Good Friday, as families across Puerto Rico prepare to celebrate Easter, they are still uncertain about how Congress intends to address the island’s… read more

Argentina settled with disgruntled creditors led by billionaire Paul Singer’s Elliott Management, who had sued the country over its $95 billion default in 2001, putting an end to an epic legal battle that had dragged down South America’s second-largest economy. Talks between government officials and the investors, including hedge funds Aurelius Capital Management, Davidson Kempner,… read more

Washington – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today applauded the House Committee on Natural Resources and the House Financial Services Committee for holding hearings on Puerto Rico’s debt crisis: “We are grateful to Chairman Rob Bishop and Chairman Sean Duffy for their unwavering support to the Americans living in Puerto… read more

Washington – Puerto Rico Economic Recovery Initiative (PRERI) Executive Director Javier Ortiz today applauded the House Committee on Natural Resources for scheduling a hearing to discuss Puerto Rico’s debt crisis: “We have heard from business owners, local officials and concerned citizens from across Puerto Rico who are excited about the thoughtful process that has begun… read more

By Tom Howell Jr. House members and financial experts said Tuesday a “team of neutrals” is needed to oversee Puerto Rico’s budget and get its fiscal house in order, as the island scrambles to pay its debts and stave off drastic service cuts to its 3.5 million residents. The U.S. territory’s debt is slated to… read more

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