CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
It has been three years and 145 days since Hurricane Maria struck the island. In other words, Puerto Rico has entered its fourth year of reconstruction. The amount of time that has gone by could suggest that recovery is fully underway. The reality on the ground, however, is very different.
President Joe Biden unveiled last week a $1.9 trillion COVID-19 relief package to help stabilize the faltering U.S. economy.
In general, the new Administration should focus its energy on providing the residents of Puerto Rico equal access to federal programs and funding so it can avoid poverty traps and spur economic growth.
Last night President Trump took to Twitter to threaten with a Presidential veto the long-awaited COVID relief bill. The current short-term continuing resolution (CR) also expires next Tuesday, December 29, meaning that Congress has little time to make adjustments to the Covid relief bill.
A little over a month ago the U.S. Census Bureau published a notice of proposed rulemaking for the elimination of the Electronic Export Information filing requirement for shipments between the United States and Puerto Rico and the U.S. Virgin Islands. While for the most part this notice has flown under the radar, the negative implications it poses over Puerto Rico’s economic data merits our attention.
En un momento tan doloroso como este, en el que el mundo experimenta semejante pandemia, vale recordar que Puerto Rico atraviesa una situación aún más delicada. Hay toda una generación en la isla que solo conoce la palabra “crisis”.
During the past couple of weeks, plenty has been inferred over the future composition of Puerto Rico’s new Financial Management and Oversight Board. In this post we shed some color on the appointments process and what is before the U.S. government at this time.
Four years since the enactment of PROMESA, the island of Puerto Rico is still grappling with nearly 15 years of economic contraction and a bankruptcy process that appears to have no end in sight. Making matters worse, just a year after PROMESA was signed into law, Puerto Rico was struck by not one but two devastating hurricanes in a span of 14 days.
