Book Description

Puerto Rico Update: PROMESA, Population Trends, Risks to the Fiscal and Economic Plan - and Now Maria vii medium-term stability, the federal government Executive Summary should assure adequate access to emergency funding and the oversight board, for its part, should be prepared to revisit the fiscal plan. Puerto Rico is in the midst of a deep fiscal, economic and social crisis. [...] The combination of the great potential for people and capital to flee of fiscal cuts and tax measures is projected to Puerto Rico for the 50 states, and in part because allow Puerto Rico to generate a primary surplus of the debt is owed largely to public bondholders about 1.5 percent of GNP, enough to pay creditors while Greece's debt is now largely owed to official about 25 percent of debt servic [...] July 2017 Puerto Rico begins implementation of the new budget.* Note: Both authors of this paper were members of the Puerto Rico team of the US Treasury at the time of the introduction of the proposed legislation in October 2015. [...] Puerto Rico Update: PROMESA, Population Trends, Risks to the Fiscal and Economic Plan - and Now Maria 3 → The bulk of the fiscal adjustment occurs in It is a harsh package: the population will be hit the first three years; cuts are concentrated hard by the cuts, and even if Puerto Rico delivers in headcount reductions, school closings, on the planned fiscal adjustment, creditors are higher univers [...] How As in any sovereign debt crisis, the way forward does the rate of net migration improve from in Puerto Rico involves the design of a robust its current run rate of -2 percent a year to only fiscal and economic plan and a resizing of the -0.2 percent a year at the same time that the debt.