Espacios abiertos economist: Gov’t should eliminate austerity measures, draw up ‘realistic’ plan

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SAN JUAN – Citing Gov. Wanda Vázquez administration’s recently revised fiscal plan indicating Puerto Rico is losing its ability to meet fiscal obligations due to significantly worsened economic conditions, that have been exacerbated by the Covid-19-spurred lockdown, government watchdog Espacios Abiertos (EA), or Open Spaces, is calling for a public debt moratorium, as well as an end to austerity measures required by the Financial Oversight & Management Board (FOMB).

“Instead of requesting a delay in cost-cutting measures, the government should be demanding an end to austerity measures as part of Puerto Rico economic policy once and for all,” EA Executive Director Cecille Blondet said during a teleconference with reporters Tuesday, accompanied by economist and EA senior analyst Daniel Santamaría Ots.

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