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Economists to discuss PROMESA’s impact at conference

Juan Villeta-Trigo, president of the Puerto Rico Economists’ Association.

Juan Villeta-Trigo, president of the Puerto Rico Economists Association.

The Puerto Rico Economists Association wiil address the impact of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) and present, through successful cases, the recipe to achieve economic revitalization during its upcoming annual conference, the organization announced.

The 33rd annual meeting will take place Aug. 26, when, under the slogan of “The New Economic Recipe: Strategies for Economic and Social Revitalization,” several panels comprising representation from government, academia and private industries will discuss a range of topics.

The agenda includes exploring the government’s new role in the face of changes ahead with the arrival of the fiscal control board, and the role of export services as part of economic revitalization. A company representative from transportation company Uber will be the keynote speaker at the event that will take place at the InterAmerican University’s metro area campus.

“As we celebrate 33 years, the Puerto Rico Economists Association continues to set standards in the public discussion of financial intelligence issues and economic analysis,” said Juan Villeta-Trigo, economist and outgoing president of the Association.

The Economists Association was founded in 1983 by a group of academics, public servants and consultants who gathered to convey options for Puerto Rico’s economic situation through theoretical, academic and empirical analysis.

During the first panel of the day, Treasury Secretary Juan Zaragoza and Economists Osvaldo Toro and Juan Gelabert-Oyola will discuss the risks the public sector is facing and the new role of services and public finances as a result of the passing of PROMESA.

Puerto Rico Manufacturers Association President Rodrigo Masses will moderate the second panel focusing on the challenges and importance of exporting goods and services as a means of economic development. Speakers will share their success stories and will be presenting their experiences and opportunities available in Puerto Rico’s current economic market and fiscal situation.

Demographic and labor challenges and their importance for economic revitalization will be the focus of the third panel, when speakers Reynaldo Quintana, Demographer Ana Luisa Dávila, Luis Burset of Gaither International, and Yanice Deynes from Pujols Farm will address how demographic changes have affected the labor sector, labor in the agricultural industries, and market supply in general.

“It is imperative and relevant that we address these economic realities in the coming months. We need a balanced budget, regardless of the arrival of the fiscal control board,” Villeta-Trigo said.

“We need to understand the need for urgent work with the demographic and population situation, given that each day more and more people leave our island’s workforce,” he added. “Stopping this wave of migration depends largely on the opportunities for economic development. This forum aims to promote action through dialogue, intellectual exchange and examples with proven success.”

Economist Mónica González-Bonnin will succeed Villeta-Trigo as Association president.

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This story was written by our staff based on a press release.

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