fiscal crisis in Puerto Rico

EspañolGovernor of Puerto Rico Ricardo Rosselló recently told members of 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…
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EspañolThis week, students at most of the University of Puerto Rico campuses went on strike, paralyzing the semester in protest of a proposed US $450 million funding cut, and demanding an audit of the government's public debt. As we…
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Last week, President Barack Obama signed the Puerto Rico Oversight, Management, and Economic Stability Act, or PROMESA. The bill is the result of months of bipartisan negotiation over how to deal with a uniquely large…
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EspañolSocialist senator and Democratic presidential candidate Bernie Sanders visited Puerto Rico this week, making a stop at the island to campaign for the upcoming Democratic presidential primaries on June 5, where 60 Puerto Rican…
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EspañolGovernor Alejandro García Padilla announced during a televised speech one week ago that the Puerto Rican government would not be able to make the payment on its debts owed May 1. The Government Development Bank, which has…
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This must have been what Robinson Crusoe felt like. Tossed upon an unknown shore in a storm, waking up to find an empty ship stuck on a reef in the Caribbean and then scrambling to salvage every little resource. Rebuilding your…
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EspañolOn Tuesday, a US House committee held the first Congressional hearing on Puerto Rico's fiscal woes since the US territory defaulted on a portion of its debt obligations earlier this month. The hearing follows House Speaker Paul…
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EspañolOn Thursday, January 15, the Puerto Rico Senate voted 14-13 to increase the import tariff on a barrel of oil from US$9.25 to $15.50. Effective March 15, the initiative will attempt to address the island's fiscal crisis and…
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