Puerto Rico: The Tale of Two Economies
Puerto Rico (PR) has received a lot of bad press recently because of its critical fiscal situation. Yes, the Commonwealth of PR is $72 billion in debt, and past governments have been mismanaging the Island’s public funds for over 30 years. The U.S. Congress is partly to blame for this debacle. However, that’s now water under the bridge, the public sector is currently being restructured by U.S. House of Representatives; project #5278, PROMESA. I’d like to talk about the other - less publicized - side of the coin. There is obviously a second economy at play here; the private economy.
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