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Toward the Economic Refounding of Puerto Rico and its Commonwealth status Aníbal Acevedo Vilá

Toward the Economic Refounding of Puerto Rico and its Commonwealth status

Aníbal Acevedo Vilá

Published November 30th 2014
ISBN :
Kindle Edition
53 pages
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 About the Book 

Following the publication of the first edition of this essay, and after weighing some of the comments, reactions and criticisms, I received official data on the $73 billion debt of the government of Puerto Rico and about that debt service. TheMoreFollowing the publication of the first edition of this essay, and after weighing some of the comments, reactions and criticisms, I received official data on the $73 billion debt of the government of Puerto Rico and about that debt service. The information reinforced my claims of the fundamental elements of my proposal herein. In addition, knowing the annual amount of the debt service, the transformer economic effect that my proposal would have on our economic reality may be more clearly perceived. With these data, and since the first edition of this essay is nearly out of print, I decided to undertake this revision. In this updated version, the reader will find, essentially, two items missing in the original document:1. A detailed analysis of the debt service, its negative impact on our economy and a numerical analysis on the benefits for Puerto Rico and the United States from the proposal that the United States assume payment of the debt in exchange for controlling federal funds transfer to the Island, at the prevailing levels at the time of negotiation.2. A Sexennial Plan for Economic Development so that disencumbering the payment of the debt becomes a transforming and refounding element for the economy of Puerto Rico.Since one of the objectives of this essay is to foster a dialog with various public and private sectors in the United States, the English translation is being published simultaneously with the publication of this second revised edition.