Before Hurricane María, if Puerto Rico were to pay off its debt without completely choking off economic and social development, it needed a total cancellation of the interest on the public debt and a reduction in the principal of approximately 45 percent to 90 percent. Now, in the wake of the storm, the debt relief needed is much greater.
Espacios Abiertos, an organization that seeks to strengthen the capacity of individuals, groups and communities to act effectively in the political, social and institutional framework, hosted public hearings Wednesday to give citizens a chance to testify on the government’s proposed budget for Fiscal 2018.
Espacios Abiertos, a nonprofit that seeks to empower society, on Thursday urged the government to provide data on the tax privileges that constitute a considerable amount of the island’s resources, particularly in times of crisis in which austerity measures are perceived due to a shortage of funds in the public coffers.
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