Eric Lecompte, Executive Director of Jubilee USA, was recently quoted in The World Weekly on the need for debt forgiveness in Puerto Rico. Read excerpt below and follow link to full article.
America's forgotten crisis
By: Alex Izza
Proposals are flying around for how to rejuvenate the island. The Puerto Rican government is looking to modernise its infrastructure to better withstand future storms. Governor Rosselló requested $94 billion in aid from Congress. Indeed, there are wider calls to ease Puerto Rico’s financial decay. “Without debt forgiveness, Puerto Rico will see no economic growth and the island’s future becomes even bleaker,” argues Eric LeCompte, executive director of financial non-profit Jubilee USA Network.
For now, Congress is focusing on allocating Puerto Rico one part of the $81 billion aid bill for disaster-affected areas in the US. It is currently stranded in the Senate.
Amidst it all, Puerto Rican politicians are taking action. On the back of a pro-statehood result in last year’s referendum, and defying vast constitutional obstacles, this week seven members of Puerto Rico’s ‘shadow’ congressional delegation presented their credentials in Washington DC and demanded to be seated.
Read more here.