CNE Review – April 2022
Tax reform is back on Puerto Rico’s agenda. We propose seven principles for a comprehensive reform, from broadening the base and lowering rates to making the system fairer, plus a note on inflation and the war in Ukraine.
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Tax Reform (Again)
Puerto Rico’s tax system is burdensome, inequitable and inefficient. We set out seven principles for comprehensive reform, from broadening the base and lowering marginal rates to simplifying the code and adding green taxes.
CNE Review – March 2022
After the third failed attempt to restructure PREPA’s debt, we offer five recommendations for any new deal, including a solvent PREPA, drastic debt reduction and no securitization. Plus a reading list on the war in Ukraine.
PREPA’s Debt Restructuring – What’s Next?
With the PREPA RSA terminated, the third failed attempt to restructure its debt, we review where the process stands. We offer five recommendations for evaluating any new proposal, from cutting at least $8 billion in debt to avoiding rate increases that would hurt the economy.
Europe and the Russian Invasion: What’s at Stake
Russia’s invasion of Ukraine marks a turning point for Europe. We trace the debates in European think tanks over strategic sovereignty, rearmament, energy dependence on Russia, and the economic and human costs of the war.
CNE Review – February 2022
We highlight key parts of the Oversight Board’s Fiscal Plan for FY2022, from debt restructuring and Medicaid to pensions and the UPR. Plus a Note from the Editor on politicians who have learned nothing from the bankruptcy.
Selected Highlights of the Fiscal Plan for Fiscal Year 2022
We review the Fiscal Plan for FY2022, certified after the Plan of Adjustment cut Puerto Rico’s debt by about 48%. Thin projected surpluses leave little margin, Medicaid funding remains insecure, and the UPR’s 48% budget cut is disproportionate.
CNE Review – January 2022
We outline six topics to watch in 2022: the pandemic, the debt restructuring, Hurricane Maria reconstruction, the midterm elections, inflation and the return of geopolitics. Plus what our Madrid bureau will be following this year.