February 25, 2016


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 Rico. We also appreciate U.S. Treasury Counselor Antonio Weiss for spearheading the Administration’s response and his continued efforts to push for a quick response that allows Puerto Rico to restructure its debts. Puerto Rico’s serious fiscal crisis requires Congressional action, and these hearings are unquestionable proof that Democrats and Republicans are working together on bipartisan solutions.

“It is critical that Congress develop an expeditious solution to solve this humanitarian crisis and provide a clear path to creating economic growth. Inaction is not an option, and we appreciate Speaker Paul Ryan’s continued commitment to addressing the island’s financial problems. More work must be done, but these hearings are another step on the path towards a commonsense solution to enable debt restructuring, strong fiscal discipline, and robust economic development as the three strong pillars to enable Puerto Rico’s economy.”