A shrinking, aging population poses the greatest risk to Puerto Rico’s long-term economic sustainability. #NewsismyBusiness
The election is over. Our anxiety levels remain high with either elation or depression. Nonetheless, we expect that the collective decision at the ballot box will spark much-needed changes to our social and economic circumstances. We all hope that something better can come from a fundamentally adversative process that has clear winners and losers. Regardless […]
It’s a fact, your business will face a crisis that can put at risk its reputation and, most importantly, its profits or even the operation at large. It’s just a matter of time for vulnerabilities to be exposed. Why wait until the crisis arises to react? Why expect positive outcomes, when the top management has failed […]
In recent weeks, our island has experienced moments of great tension that have affected all sectors of our society. We have seen how the central government has collapsed and with it everything, including tourism. The fact that the Tourism Company remained silent and static is not surprising because the goal of this administration’s public policy […]
The Puerto Rico College of Engineers and Surveyors urged the government to avoid the paralysis of the economy by acting quickly to resolve the political crisis it is going through. “This is not a matter of parties or governors, but of the island. We’re in the international spotlight and our economy is paralyzed,” said Pablo […]
It’s been another busy year at Plaza Las Américas, as its management cut overhead, carried out mall upgrades to the tune of $5 million and welcomed new stores while others closed.
With the looming fiscal crisis overwhelming the government of Puerto Rico, many proposals are persistently brought forward, with the sincere aim of taking small steps towards sensible short and long-term solutions.
The United Nations Independent Expert on foreign debt and human rights has called for fair solutions to the huge debt crisis in Puerto Rico, warning that ratcheting up austerity measures will threaten residents’ human rights and worsen the U.S. territory’s “intolerable” poverty levels.
The Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA) made public Thursday updated financial information for the Commonwealth, outlining incomes and expenditures during the last eight fiscal years.
The seven-member Financial Oversight and Management Board for Puerto Rico is expected to meet sometime next week for the first time since being constituted by President Obama to address the island’s economic crisis, Richard Ravitch, who will represent the Commonwealth’s governor in the body, said Monday.
As part of a strategy to face the government’s current liquidity challenges and continue contributing to the island’s economic development, the Puerto Rico Economic Development Bank announced Monday it will be capping credit lines at $500,000 from the $5 million limit it formerly offered.
While insurers domiciled in Puerto Rico have maintained underwriting discipline and demonstrated favorable operating results and solid balance sheet strength, the competitive operating environment and economic challenges there will hinder their ability to grow over the near to medium term, according to a new A.M. Best briefing.
A broad group of public and private-sector representatives from Puerto Rico are bearing down on Washington lawmakers this week, when a draft of the bill proposing an oversight board for the island is expected to be released and discussed during a hearing Wednesday.
In the past 10 years, the size of the local economy has shrunk by 14 percent, total employment has dropped by 21 percent (more than 250,000 jobs) and the total population has decreased by 9 percent.
So, here we find ourselves. A mere eight months away from the general elections, with a cast of characters in the local ballot (at least the ones with chances of winning) that offer absolutely no chance of a solution to our insurmountable problems.
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