Op-Ed: The development of new export sectors in Puerto Rico
October 17, 2013
The economic challenges Puerto Rico has been facing for over a decade now (and the fact that during that time Latin America has experienced an historic growth in which many of us did not participate) remain the thorn in the side of local enterprises, which titanically still hold together much of our economy.
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Op-Ed: Puerto Rico’s glaring signal to change course
October 15, 2013
Various publications have recently highlighted Puerto Rico’s economic troubles as reflected in the municipal bond market.
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Oriental Bank CEO to head Bankers Association
September 10, 2013
Oriental Bank President José Rafael Fernández will be chairing the Puerto Rico Bankers Association starting this month, something he described Monday as “a true challenge, but a great opportunity.”
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Education, infrastructure are roadblocks for Puerto Rico
September 5, 2013
While Puerto Rico’s competitive capacity depends mostly on its capacity to innovate, the island faces great challenges in education and infrastructure — areas that require immediate attention to position it favorably against other global economies.
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Puerto Rico GDB head reacts to Barron’s cover story
August 27, 2013
Puerto Rico has made significant progress in addressing its financial challenges and continues to focus on taking aggressive action to achieve fiscal stability and promote economic growth, said Government Development Bank for Puerto Rico Acting President José Pagán, in response to a story by published respected weekly paper Barron’s.
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Puerto Rico’s economic woes ‘hollowed out’ middle class
August 5, 2013
The economic transition that Puerto Rico has been going through for the past seven years has been “extremely painful” for many, as “employment trends have polarized the workforce and hollowed out the middle class,” according to the most recent edition of “Compass,” a publication by Heidie Calero Consulting Group.
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New taxes could reduce Puerto Rico’s real growth by 3.3%, slash 30K jobs in 2 yrs.
July 30, 2013
Preliminary analysis conducted by economic analysis firm Heidie Calero Consulting Group suggests the impact of new taxes implemented in Puerto Rico this month could lead to a reduction of 3.3 percent real growth during the next two fiscal years with a loss of up to 30,000 jobs.
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FirstBank hosts educational seminar in Ponce
July 1, 2013
A group of entrepreneurs who own small- and mid-sized businesses in Ponce recently took part in a seminar hosted by FirstBank Puerto Rico, marking the start of the second phase of an educational program launched last year to provide financial literacy tools to that sector. Economist Gustavo Vélez offered the seminar entitled “Economic trends for […]
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Op-Ed: Against the Jones Act
June 28, 2013
A recent study by the firm Estudios Técnicos, paid by Jones Act shippers, purports to show the benefits for Puerto Rico of the Jones Act. The federal law requires all goods transported by water between U.S. ports be carried in U.S.-flag ships, built in the U.S. and crewed by U.S. citizens and permanent residents. The analysis, as described by a local business publication, makes for sad reading.
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Experts: Puerto Rico’s problems rooted in gov’t inability to change
June 27, 2013
Puerto Rico’s current economic situation is deep-rooted in the government’s inability to understand the gravity of the problem and the outcome of doing the same things over and over again, while expecting different results.
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Wendy’s Puerto Rico buys $12M in local goods annually
June 25, 2013
In its quest for freshness and to uphold high quality standards, Puerto Rico’s Wendy’s franchisee invests about $12 million a year in goods from local farmers and producers.
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26 trade groups seek inclusion to solve fiscal problems
June 18, 2013
Representatives from 26 professional organizations from a cross-section of Puerto Rico’s economy, as well as thousands of businesses and workers, on Monday asked Gov. Alejandro García-Padilla and his administration for “transparency” and inclusion in the decision-making process to find solutions to the island’s precarious fiscal situation.
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Senators file bill to promote ‘creative industries’
June 12, 2013
Senators Ramón Luis Nieves and José Nadal-Power announced Tuesday the filing of Bill 655 to promote "creative industries" in Puerto Rico, as a means of creating jobs and wealth.
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CNE: Puerto Rico ‘failing to face new reality’
June 6, 2013
Puerto Rico may have reached the limits of sustainable growth within its current institutional framework and its leaders must find the political will to make profound changes to the socio-economic structure to pull out of the seemingly unstoppable downward spiral the island is on and insert it squarely into the new globalized economy.
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GDB kicks off 11th finance, economy institute
June 4, 2013
Government Development Bank President Javier Ferrer announced Monday the start of the 11th José M. Berrocal Finance and Economy Institute internship program, with the participation of 30 college students attending Puerto Rico and stateside universities.
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