Puerto Rico on the verge of discharging its chapter: However with out structural modifications and a political tradition based mostly on fiscal actuality, Puerto Rico is doomed to repeat her errors

Final month, the architects of The Puerto Rico Oversight, Administration, and Financial Stability Act (PROMESA) obtained to see the fruits of their work. Federal Choose Taylor Swain gave judicial nod for the plan of adjustment of Puerto Rico’s money owed after years of robust negotiations and litigation. This paves the best way for the biggest restructuring of public sector debt in US historical past and the eventual exit of the Monetary Oversight and Administration Board from the island.The response of the primary actors on this saga of negotiation and litigation has been largely optimistic, with the manager director of the oversight board, Natalie…