
In June, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act, or Promesa. The bill aims to help Puerto Rico restructure its debt and prevent the island from being sued for defaulting on bond payments. The Puerto Rico Oversight, Management, and Economic Stability Act President Barack Obama signed the bill into law. The bill was criticized and considered a form of colonialism. According to many members of Congress who voted for the bill and acknowledged its shortcomings, it was the best option for Puerto Rico. BMI Research also supports that view. Based on a BMI Research report, Promesa […]
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