Looking to build a new “civic infrastructure” for Puerto Rico in the U.S. mainland, a Center for a New Economy will be opening offices in Washington, DC and New York to insert itself in the discussion of fiscal and other issues, the think tank’s President Mike Soto-Class said Thursday.
Former Washington, D.C. Mayor Anthony A. Williams, who steered the nation’s capital from financial ruin to prosperity, told U.S. lawmakers Tuesday that solving the immediate fiscal crisis, while absolutely essential, will not alone be sufficient to bring Puerto Rico back to the position of economic self-sufficiency.
Puerto Rico will be $923 million in the hole by summer if it meets all of its upcoming obligations, including debt service payments and payments to suppliers, as the fiscal crisis tightens its grip on the island’s finances.
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