Puerto Rico's debt amounts to more than $72,000 million. In 2014, it represented 110 percent of the National Income of 63,000 million. In 2014, 17 percent of Puerto Rico's consolidated budget was dedicated to debt service. The high amount of debt is the most serious and urgent economic challenge facing the people of Puerto Rico.
With the growing importance of the fiscal situation, it has become a topic of discussion in the daily lives of Puerto Ricans.
This dictionary is an effort to compile terms commonly used in discussions about debt. Its objective is to achieve a better understanding of the problem and encourage the informed participation of citizens in these debates.
It is a living and dynamic document. As debt discussions continue, terms will be added and updated, bringing the most up-to-date lexicon.
Tweet or tweet @menchaut to add terms, suggest changes, or make comments.
Technical notes: To make this dictionary, definitions from financial dictionaries, definitions of terms provided in Puerto Rico government documents, and explanations of concepts available in the printed and Internet news media were taken.
Some terms are presented in English as their use is regularly made in that language and is generally accepted and understood in the language of debt. When necessary, usage examples are provided to clarify the meanings. Hyperlinks are provided to Internet addresses that are used in the construction of the terms. However, it cannot be guaranteed that they will be available at the time the reader tries to access them.
The Debt Dictionary is an education and empowerment tool in times of crisis. Its author is the economist and professor, María E. Enchautegui, who was assisted by Victoria Sofía López Esteves. Sergio Marxuach, Director of Public Policy at the Center for a New Economy, made important contributions.