Chapter 9

Puerto Rico's Deteriorating Fiscal Situation

Puerto Rico's Deteriorating Fiscal Situation

Puerto Rico's $72 billion in debt is a result of its bloated public sector and bad public policies. Before granting the island Chapter 9 bankruptcy protection, Congress should first demand full fiscal transparency from the Puerto Rican government. The island has not released audited financial statements since 2013, masking the full extent of the problem.