The federal Financial Oversight and Management Board must declare a one-year moratorium on all debt payments and proposed new deals for the central government and the Puerto Rico Electric Power Authority, an economist with the pro-transparency group Espacios Abiertos (EA) said Tuesday.
“When we analyze the international context and the situation of Puerto Rico in the light of the economic projections contained in the msot recent fiscal plan, published by the Puerto Rico Fiscal Agency and Financial Advisory Authority on May 3, it becomes clear that the austerity policies proposed in all the fiscal plans certified so far have contributed to a worsening of the current crisis and, in final analysis, the unsustainabiulity of the public debt,” said Daniel Santamaría Ots, an economist and EA senior public policy analyst.
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