Puerto Rico’s worst political crisis in decades is intensifying after the commonwealth’s governor-in-waiting Wanda Vazquez, said that she doesn’t want to take power, leaving the bankrupt island facing an unprecedented succession impasse, Bloomberg News reported.
Puerto Rico in Distress
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The solution to Puerto Rico’s problems is not to simply replace local politicians with U.S. envoys and supervisors, something which for many smacks of a retrenched colonialism, nor is the answer to strengthen the powers of a board that is rooted in legal exceptionalism, according to a commentary in The Hill. After 12 days of protests, the governor of Puerto Rico resigned last week.
Puerto Rico's recovery from 2017’s Hurricane Maria has been slow, which is why many on the island are fretting at signs that recent political turmoil could further hinder the arrival of desperately-needed federal aid, Reuters reported.
As political chaos swirled outside, a federal court judge overseeing Puerto Rico’s bankruptcy in San Juan sought to impose order on dozens of legal fights that are adding to the island’s financial turmoil, Bloomberg reported. U.S.
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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.