Four years after Hurricane Maria, some of the most important reconstruction work, like modernizing the electric grid, hasn't begun as Puerto Rico faces a critical phase in restructuring its debt. - NBCLatino
Regarding reconstruction, some of the most important work, which includes"undertaking mitigation activities to increase resiliency and reduce the risk exposure of vulnerable populations — has not yet begun," according to the analysis.
Blue tarps given out by FEMA cover several roofs two years after Hurricane Maria affected the island in San Juan, Puerto Rico, on Sept. 18, 2019.Created during the Obama administration under the 2016 Promesa law, the federal fiscal board is responsible for restructuring Puerto Rico’s $72 billion public debt after U.S. laws
early in 2020 followed by the Covid-19 pandemic made life harder for the 3.2 million Puerto Ricans living in the territory. “It is worrisome that economic growth in the short term depends mostly on receiving federal transfers that we do not control," Marxuach stated in the report."We worry that these expenditures will have a temporary positive impact on the economy that may set back efforts to develop a medium/long-term economic strategy or plan for Puerto Rico.”
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