La PRMA insta a la OBoard a ‘reconsiderar su función y sus objetivos’.’
PRMA President Rodrigo Masses
Dado el impacto en la economía de Puerto Rico por el azote de los huracanes Irma y María, el colapso del sistema eléctrico de la isla y los cambios en el código tributario de los Estados Unidos y su efecto local, la Asociación de Fabricantes de Puerto Rico insta a la Junta de Supervisión y Administración Financiera a reconsiderar su función y sus objetivos.
In a letter sent to Oversight Board Chair José Carrión III, PRMA President Rodrigo Masses said solving the fiscal problems facing Puerto Rico will be impossible unless the economy returns to sustained growth.
For this reason, if the Oversight Board maintains as its priority a focus driven solely by its fiscal authority, it will prevent an economic recovery and will also generate serious economic and social costs for island residents and future generations, the PRMA said.
If, however, the Oversight Board changes its approach, “it can play a key role in creating conditions for fiscal and economic growth, and capacity building that Puerto Rico needs to achieve prosperity.”
In the letter, the PRMA recommended that the Oversight Board focus its efforts on the following specific areas:
- In concert with local government and the private sector, aggressively pursue congressional measures to ensure that Puerto Rico remains a viable option to retain and attract manufacturing facilities option.
- Renew Puerto Rico’s power grid and work with the private sector to ensure long-term success.
- Facilitate a consensual solution to the island’s debt burden to avoid lengthy litigation that perpetuate uncertainty and hamper economic investment.
In turn, the PRMA offered the Oversight Board its support in achieving those goals and requested a meeting with Carrión and the Board’s Executive Director, Natalie Jaresko.
