The document certified yesterday is a good move, but insufficient, according to experts
The Oversight Board decision to focus on strengthening government operations and the economy, while admitting that Puerto Rico does not have the money to pay bondholders, is a wise move, but is fraught with uncertainty, according to experts interviewed by El Nuevo Día.
According to attorney Rolando Emmanuelli, an expert on PROMESA and representative of the Electrical and Irrigation Industry Workers Union (Utier, Spanish acronym) in the Puerto Rico Electric Power Authority debt restructuring process, with this decision, the fiscal entity is taking the path it should have taken some four years ago when Congress sought to address the island’s fiscal crisis.
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