Eric LeCompte, Executive Director of Jubilee USA was recently featured in Public Finance International speaking on Puerto Rico. Read excerpt below and follow link to full article.

Puerto Rico Advised Over Debt Crisis but Likely Shorn of US Support

By: Emma Rumney

"LeCompte also called for a clause in the debt restructuring agreements to take into account of Puerto Rico’s vulnerability to shocks, ranging from hurricanes to global financial crises.

This would work in a similar way to the ‘hurricane clause’ in a restructuring deal to Grenada, which suspends debt repayments when Grenada is hit by certain external shocks.

Debt restructuring should also differentiate between civil entities holding Puerto Rican debt and external creditors when it comes to haircuts, which the former might be less able to endure, and perhaps link repayments to GDP.

LeCompte said pegging returns for creditors to economic growth deters 'predatory behaviour' and establishes that success for Puerto Rico means success for everyone."

Read more here.