What Puerto Rico Really Needs
This story has been updated Beyond Puerto Rico’s undefeated march to the World Baseball Classic final, it seems the island can’t catch a break. First, ongoing mediated talks between its government and debtors over how to restructure its $70 billion debt before a key May 1 deadline aren’t going well, although failure would expose Puerto … Read more
Congress Offers Broken PROMESA to Puerto Rico
The U.S. Senate this week voted to pass the Puerto Rico Oversight, Management, and Economic Stability Act, known as PROMESA (“promise” in Spanish), without amendments. Cast as “Puerto Rico’s last chance” before a July 1 default, the bill is a classic congressional compromise in which neither Democrats nor Republicans are completely satisfied. The bill offers Puerto Rico the … Read more
