Governor of Puerto Rico Urges US Congress To Help Island Avoid Economic Disaster

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Puerto Rico
Rossell贸 sent House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell a letter this informing them that most businesses had closed after the hurricane passed, and that the post-hurricane clean-up efforts were putting extra pressure on an already dire fiscal situation. (Flickr)

Espa帽olGovernor of Puerto Rico聽Ricardo Rossell贸聽recently told members of聽the United States Congress that the island is not only on the verge of a worsening humanitarian disaster, but also a fiscal one due to the damage caused by Hurricane Maria.

Rossell贸聽sent House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell a letter this week informing聽them of the situation, claiming that most businesses had closed after the hurricane passed the island, and that聽the post-hurricane clean-up efforts were putting extra pressure on an already dire fiscal situation.

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“In addition to physical damage, Puerto Rico’s economy is about to crash,” Rossello wrote in the letter.

“The financial damages of this magnitude will subject the central government of Puerto Rico, its infrastructure and聽municipal governments to an unsustainable cash聽crisis,” Rossello said. “As a result, in addition to the immediate humanitarian crisis, Puerto Rico is on the verge of a massive liquidity crisis that will intensify in the immediate future.”

Rossell贸 asked Ryan as well as McConnell for another US $4.6 billion to help the island, mostly in the form of聽additional community grants from the Department of Housing and Urban Development.

“The unprecedented devastation across the island of Puerto Rico has led to independent damage assessments in the $95-billion range, roughly 150 percent of Puerto Rico’s Gross Domestic Product,” Rossell贸 said in the letter.

Sources: Washington Examiner, El Financiero.

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