“The Task Force is of the view that Puerto Rico’s best days lie before it, not behind it.” — we agree. PRERI was pleased to see a good faith effort by the Task Force to recommend strong recommendations in 18 areas critical to the future of Americans residing in Puerto Rico and the Island’s economy,… read more
By Clayton P. Gillette & David A. Skeel Jr. Gov. Alejandro García Padilla of Puerto Rico has offered a comprehensive proposal for reversing the territory’s downward spiral. Unlike prior proposals, which focused solely on restructuring Puerto Rico’s debt or cutting its spending, the new plan recognizes the urgent need for both. It could actually work,… read more
By Michelle Wilde Anderson Last week, Puerto Rico eked out a major round of payments on its enormous debt — surely the last one that the island can afford to pay in full. The territory’s debt crisis reached a boiling point last summer and is beginning to overflow. By the new year, Puerto Rico will… read more
By Editorial Board The leaders of Puerto Rico could soon have to choose between cutting essential services like the police, hospitals and education, and paying bondholders. To avoid this catastrophe, Congress needs to help the island, which is home to 3.5 million American citizens, by giving it the ability to restructure its debts in an… read more
By Jose Portela and Javier Ortiz Puerto Rico and its current fiscal situation were top of mind of the Obama Administration and Congress recently. On one hand, U.S. Treasury Secretary Jack Lew released a set of legislative proposals to address Puerto Rico’s debt crisis. The plan solidly lays out a very good way forward. While… read more