The future of Puerto Rico: debt, bankruptcy, & a path forward

Guests: David Skeel, Dánica Coto, and Michael Matza

Puerto Rico is in trouble. The Isle of Enchantment is deeply in debt, and US Treasury Secretary Jack Lew, who visited San Juan last week, has called on Congress to pass legislation that would allow Puerto Rico to restructure its obligations and avoid future defaults. Congress is divided on the issue, with some Republicans calling for a financial oversight board, and in the meantime, Puerto Ricans are feeling the crunch, and many are heading to the US or other countries for better economic opportunities. Today on Radio Times, DAVID SKEEL of University of Pennsylvania’s Law School will discuss how Puerto Rico’s debt crisis emerged, bankruptcy laws, and a way forward for the beleaguered island. We’ll also hear from Associated Press reporter DÀNICA COTO about how the island’s residents are faring amidst a sea of financial woes and how Puerto Rico’s government has responded so far. We’ll also discuss the Boricua community in the US, and particularly in our region, and how the debt crisis has impacted their families and other community members with MICHAEL MATZA of The Philadelphia Inquirer, who covers immigration.