Description

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Tags: Economic History, Lang:en

Summary

Since 2006, Puerto Rico has been struggling with its worst economic crisis in recent history. In early February 2014, the three main U.S. credit agencies, decided to downgrade the island’s credit to “junk status,” and Puerto Rico became the first U.S. jurisdiction to fall under this classification. After the credit downgrade, the government’s fiscal strategy continues to be based on imposing new and more taxes and on implementing short term fiscal measures. The local political leadership lacks the will to implement the structural reforms needed to get out of the economic recession and stagnant economy.

Puerto Rico’s public debt per capita ascends $20,384, while the debt per tax payer is of $89,181. Nearly two years after the credit downgrade, as the economic situation spiraled, Puerto Ricans seem to have lost hope for a better future within their country. In this book, we look into the economic and fiscal crisis problem. The author proposes alternatives to overcome the current crisis and help the fiscally distressed U.S. territory find a new economic horizon.

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About the Author

Con más de dos décadas trabajando como Economista, el autor obtuvo su bachillerato y maestría, de la Universidad de Puerto Rico, Recinto de Río Piedras. Entre el 1998 y el 2006, ocupó varios puestos públicos, entre ellos, asesor económico en La Cámara de Representantes y La Fortaleza. En el 2006, establece su propia firma de consultoría Inteligencia Económica Inc. y en el 2011 publica su primer libro “Reinvención Boricua”; Es conferenciante y colaborador sobre temas económicos de varios medios de comunicación locales e internacionales, como El Nuevo Día, Univisión Radio y CNN Dinero.