The economic crisis Puerto Rico is facing while in the grip of the COVID-19 pandemic requires forceful action on the part of the government and Financial Oversight and Management Board for Puerto Rico, according to nonprofit Espacios Abiertos.
“When we analyze the international context and Puerto Rico’s situation in light of the economic projections contained in the most recent fiscal plan, published by the 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 the final analysis, the unsustainability of the public debt,” said economist and Espacios Abiertos’s senior public policy analyst Daniel Santamaría-Ots.
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