Puerto Rico
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Puerto Rico’s Multi-layered Crisis
5 May 2021 - by Rafael Bernabe
THE RECENT ELECTIONS in Puerto Rico produced some startling results: both a surge in the vote for progressive, including pro-independence, forces and a status plebiscite which has been hailed a “mandate” for statehood. In order to interpret these (...) -
Puerto Rico Faces Crises: Covid, Hurricanes, Earthquakes, Drought
20 July 2020 - by Dan La Botz
The United States has suffered 135,000 deaths from COVID-19 and has tens of millions of unemployed and both crises continue now into the fifth month, but nowhere has the economic crisis been greater than in the U.S. colony of Puerto Rico. (...) -
Puerto Rico rises...
24 July 2019 - by CADTM AYNA
CADTM Latin America and the Caribbean (CADTM - ABYA YALA - Our America) stands in solidarity and marches along with the brave Puerto Rican people and, among them, the comrades with whom we participated in the Latin American and Caribbean Week (...) -
Puerto Rico: people are in the streets against sexism, homophobia, austerity and corruption
21 July 2019 - by Pierre Gottiniaux
A political scandal recently pushed thousands of Puerto Rican people into the streets to march under the catchword ‘Ricky Renuncia!’, Ricardo, quit! - Ricardo Rossello is the island’s current governor. On 11 July 2019, an anonymous source (...) -
Debt Island: Wall Street Closes in on 40 Years of Profit at Puerto Rico’s Expense
30 January 2019 - by Abner Dennis, Kevin Connor
An important chapter in the story of the Puerto Rican debt crisis is comingto an end this month, as an adjustment plan around sales tax-backed, or COFINA, debt is being voted on by creditors and will likely be approved by the federal court (...) -
Puerto Rico: Successful Campaign against Illegitimate Debt
15 December 2018 - by Eric Toussaint
Puerto Rico is a colony of the United States. Its inhabitants, although they have US citizenship, cannot vote for the president of the United States. Puerto Ricans elect a single representative to the US Congress, but this representative has no (...) -
Puerto Rico: Economic reconstruction, debt cancellation, and self-determination
13 December 2018 - by Rafael Bernabe
Puerto Rico has been a colony of the United States since the Spanish-American War of 1898. Its trajectory has been exceptional. Along with Cuba, it was one of the last colonies of Spain in the Americas. After 1898 it became a colony of a power, (...) -
Behind Puerto Rico’s Debt, Corporations That Drain Profits from the Island
10 December 2018 - by César J. Ayala
The Phenomenal Drain of Profits Beginning in the 1970s, Puerto Rico’s economy began to suffer a drain of profits, to the point where the measure of total income produced in the island, the Gross Domestic Product, began to separate dramatically (...) -
Who Owns Puerto Rico’s Debt, Exactly? We’ve Tracked Down 10 of the Biggest Vulture Firms
3 December 2018 - by Joel Cintrón Arbasetti, Carla Minet, Alex V. Hernandez, Jessica Stites, CPIPR, In These Times
Financial firms are still fighting to get billions out of the bankrupt island as it tries to rebuild. Ever since Hurricane Maria and Irma devastated Puerto Rico, a looming question has been what will happen to the island’s $74.8 billion in (...) -
Puerto Rico
The COFINA Agreement, Part 2: Profits for the Few
3 December 2018 - by Abner Dennis, Kevin Connor
This is the second installment of a two-part series on the COFINA debt restructuring agreement for Puerto Rico. If the COFINA agreement represents the continuous ruin of their country for the large majority of Puerto Ricans who are working (...) -
Puerto Rico
The COFINA Agreement, Part 1: The First 40 Year Plan
3 December 2018 - by Abner Dennis, Kevin Connor
This is the first installment of a two-part series on the COFINA debt restructuring agreement for Puerto Rico. A major deal around the restructuring of the largest portion of Puerto Rico’s debt cleared an important legislative hurdle this (...) -
Report
We saw Puerto Rico’s struggle to survive
27 November 2017 - by Monique Dols, Lance Selfa
The federal government in Washington and local government agencies in Puerto Rico are eager to project the appearance of the island returning to a pre-Hurricane Maria status quo. But millions of Puerto Ricans know better. SocialistWorker.org (...) -
In times of humanitarian crisis: What Are Washington’s Aims for Puerto Rico?
20 November 2017 - by Barry Sheppard
The humanitarian crisis in Puerto Rico continues after almost two months after the hurricanes hit, while the imperialist center in Washington continues to refuse to come to the aid of its colony in anything like an adequate fashion. The (...) -
Punitive Neoliberalism and Financial Melancholia in Puerto Rico
6 November 2017 - by Rafael Bernabe
BEFORE HURRICANE MARIA smashed into Puerto Rico with devastating force, the previous Hurricane Irma caused relatively manageable damage compared to its horrific impact in much of the Caribbean. Even so, the island’s electrical grid — before Maria (...) -
Puerto Rico: Some Lessons of the Hurricane
6 October 2017 - by Rafael Bernabe
Crises raise new, sharp problems that unveil and accentuate both the admirable and the negative aspects of the societies they affect. They also pose new tasks and offer new perspectives on already established plans. The case of Puerto Rico and (...) -
Puerto Rico is our Future
1 October 2017 - by Richard Heinberg
News reports tell of the devastation left by a direct hit from Category 4 Hurricane Maria. Puerto Ricans already coping with damage from Hurricane Irma, which grazed the island just days before, were slammed with an even stronger storm on (...) -
Puerto Rico: Belonging to, But Not Part of
1 October 2017 - by Ed Morales
The Trump administration’s delay in sending real aid to Puerto Rico after Hurricane Maria is a distasteful display of colonialist racism. But it’s par for the course: our citizenship has always been second-class. “We’re American citizens. How can (...) -
From Puerto Rico to the Dublin Docklands, Vulture funds and debt in Ireland and the Global South
27 March 2017 - by Debt and Development Coalition Ireland
Vulture funds have become familiar to those concerned with debt justice over recent decades. Because of their speculative strategies and negative impacts on sovereign debt restructuring, they have come to symbolize the highly unequal and unjust (...) -
The Debts of the American Empire — Real and Imagined
22 March 2017 - by Max Haiven, Cassie Thornton
From Chicago to Puerto Rico to San Francisco, debt is a terrain of struggle within and against America’s racialized empire of indifference. We are used to speaking about debt as an individual experience, one of lonely insomnia, and of grinding, (...) -
Puerto Rico’s debt crisis: UN expert warns human rights cannot be side-lined
10 January 2017 - by Juan Pablo Bohoslavsky
For several years, Puerto Rico has been facing a serious financial, economic and social crisis. Currently, the island, a territory of the United States of America is no longer able to serve fully its public debt of about 71.5 billion USD. In (...) -
Puerto Rico’s Neocolonial Debt
3 December 2016 - by Pierre Gottiniaux
In 1898 the United States declared war on Spain to ‘free’ Cuba from Spanish domination. Spain was defeated and signed the Treaty of Paris in December 1898, in which it sanctioned Cuba’s independence and ceded to the US several other overseas (...) -
Puerto Rico
Black flags and debt resistance in America’s oldest colony
17 August 2016 - by Max Haiven
Sunday midnight in Santurce, the old downtown working-class neighborhood of Puerto Rico’s capital San Juan which, like seemingly all such neighborhoods around the world, struggles with the uneven brutalities and gifts of gentrification. Old men (...) -
Puerto Rico: The audit now in progress has already revealed that the debt is largely illegal
27 June 2016 - by Pierre Gottiniaux
The island of Puerto Rico, which is part of the Commonwealth of the United States, is staggering under the weight of an unsustainable debt of nearly $73 billion. Its neo-colonial legal structure prevents it from restructuring its debt and (...) -
Hedge Funds Are Killing Off Schools In Puerto Rico
20 juin 2016 - par Brave New Films
Hedge funds that profit off of the misery of places like Puerto Rico are raking in massive dollars by forcing schools to close and making education unaffordable. -
Colonial Capitalism and Puerto Rico’s Odious Debt
31 May 2016 - by José A. Laguarta Ramírez
The Puerto Rican government should confront colonialism head on and demand true negotiations rather than obey Washington’s dictates on debt repayment. The Natural Resources Committee of the United States House of Representatives gave the green (...)
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