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来源类型Papers
规范类型论文
来源IDCIGI Paper No. 146
Puerto Rico Update: PROMESA, Population Trends, Risks to the Fiscal and Economic Plan — and Now Maria
Gregory Makoff; Brad W. Setser
发表日期2017-09-28
出版年2017
语种英语
摘要

The damage from Hurricane Maria may push Puerto Rico into a worst-case scenario of accelerating decline and ever-falling tax revenues if the loss of housing and a sustained power failure lead to large-scale outmigration. Given the need to alleviate immediate suffering, the potential loss of near-term tax revenues and the risk to medium-term stability, the federal government should assure adequate access to emergency funding and the Financial Oversight and Management Board, for its part, should be prepared to make appropriate adjustments to the fiscal plan. Even before the hurricane, Puerto Rico was in the midst of a deep fiscal, economic and social crisis. This paper provides a critical review of Puerto Rico’s fiscal and economic plan, with analysis that was carried out prior to Hurricane Maria. It starts with an overview of the fiscal plan and the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), the federal law put in place in June 2016 to support Puerto Rico’s recovery. The second section reviews Puerto Rico’s historical population trajectory and economic trends to highlight the depth of the challenges faced by policy makers in trying to fix the territory. The third section highlights the substantial downside risks to Puerto Rico’s fiscal and economic plan. Finally, since it is expected that Puerto Rico’s recovery will be a work in progress for some time, the paper closes by suggesting that readers carefully track a few selected statistical measures for signs of further trouble.

子主题Management of Severe Sovereign Debt Crises
URLhttps://www.cigionline.org/publications/puerto-rico-update-promesa-population-trends-risks-fiscal-and-economic-plan-and-now
来源智库Centre for International Governance Innovation (Canada)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/180646
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Gregory Makoff,Brad W. Setser. Puerto Rico Update: PROMESA, Population Trends, Risks to the Fiscal and Economic Plan — and Now Maria. 2017.
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Paper no.146web.pdf(1243KB)智库出版物 限制开放CC BY-NC-SA浏览
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