Congress Needs to Act on Puerto Rico’s Debt Crisis, and ‘PROMESA’ Could WorkGuest Post
Congress Needs to Act on Puerto Rico’s Debt Crisis, and ‘ PROMESA ’ Could Work by PIMCO
Diverse interests have emerged seeking to derail a bill aimed at a satisfactory resolution to Puerto Rico’s debt crisis.
The U.S. House Natural Resources Committee (HNRC) is considering HR 4900, entitled the Puerto Rico Oversight, Management, and Economic Stability Act, or PROMESA, which means promise in Spanish. A critical component of the bill is creation of a federal oversight board with broad powers over Puerto Rico’s fiscal and budgetary affairs. The seven members of the oversight board would be appointed by . . .
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