Puerto Rico in Distress

ABI Analysis

Puerto Rico Gov. Ricardo Rosselló recently swore in his dream team for political representation — two senators and five representatives to match the commonwealth’s population, Roll Call reported yesterday. They are expected to travel to Washington soon and ask lawmakers to be seated as the official congressional delegation for Puerto Rico.

The Puerto Rican economy has already suffered a lost decade — no economic growth since 2005, according to an op-ed in Saturday’s New York Times. The poverty rate is 46 percent, and 58 percent for children — about three times that of the 50 states. Unemployment is at 11.7 percent, more than two and a half times the level in the states.

The Puerto Rican economy has already suffered a lost decade — no economic growth since 2005, according to an op-ed in Saturday’s New York Times. The poverty rate is 46 percent, and 58 percent for children — about three times that of the 50 states. Unemployment is at 11.7 percent, more than two and a half times the level in the states.

Puerto Rico Gov. Ricardo Rosselló (D) swore in the seven members of its Puerto Rico Statehood Commission, the delegation that will go to Washington, D.C., and ask to be seated in Congress as part of the island's bid for statehood, The Hill reported. The commission was sworn in at a ceremony Tuesday at La Fortaleza, the governor's official residence in San Juan.

Other Resources

The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.