I’ve been asked for a book (in Spanish) that discusses the fiscal plans certified by the Control Board, an interesting idea that will be useful for my readers — I’ll save them the agony of reading and analizing those horrors. Its tentative title is PROMESA de tratar de destruirnos. (I don’t think the title leaves any doubt about my opinion on what I have read so far.)
What I had planned as my second book is now on hold: An anthology (in Spanish, tentatively called Tu PROMESA yo no la quiero) of articles that show that the PROMESA was unnecessary and that even with the political status that chains Puerto Rico, there were alternatives to deal with the restructuring of its debt. Among the issues I am planning of covering in the book are: what was the process for the government to issue debt; the impact of the political status in Puerto Rico’s economic development; the international efforts to promote mechanisms for the restructuring of sovereign debt; and how these efforts and Chapter 9 of the U.S. Bankruptcy Code would have been better alternatives than the Control Board imposed by the PROMESA with its proconsuls appointed by the U.S. President and their undermining of the sovereignty of the people of Puerto Rico.
