Economist and former Clinton administration official Robert Shapiro said Tuesday the Treasury Department’s decision to nullify an agreement that would have granted Doral Financial Corp. a $230 million tax refund has “serious implications” on the potential to attract future investments, as well as on the island’s economic growth.
Puerto Rico’s “solid and mature” geography and its proximity to powerful markets as the U.S. mainland make it a strong candidate to become the computer industry’s hub for the Caribbean, an executive from technology company Cisco said Tuesday.
The economic situation that has enveloped the island in recent years has a direct impact on the lives of thousands of Puerto Ricans. Among the various consequences this situation can generate is that many families have trouble making payments on their debts, including mortgages.
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