1. Puerto Rico’s Debt and Humanitarian Crisis

2. Puerto Rico’s Bankruptcy The Commonwealth’s real public debt is over $167 billons and its imposible to pay.

3. Despite the sacrifices already made, the debt is not reduced, on the contrary…It’s increasing!

4. Economic Model Failure Puerto Rico faces serious structural problems and economic stagnation. Puerto Rico faces serious structural problems and economic stagnation. The economy has shrunk over 10% since 2006. The economy has shrunk over 10% since 2006.

5. The cold numbers do not necessarily reflect the suffering the Puerto Rican government is imposing on its people in order to pay its creditors. With a poverty rate already at an alarming 45%! Poverty on the rise

6. Extreme measures To pay back its creditors, Puerto Rico has resorted to extreme measures including delaying tax refunds to its citizens, increasing sales tax by more than 50%, and instituting massive cuts to education, healthcare, social and other public services.

7. Health Crisis The Department of Health was hard hit, with cuts totalling $10 million. Funding for the island’s Medicare Advantage program, which serves about 560,000 people, was also cut by 11% in January.

8. Impoverishment of Education Last year, Puerto Rico closed 100 schools and about 2,400 students with special needs are not receiving services such as speech therapy, because the lack of funds.

9. Pensions bankruptcy By the end of 2015, the island’s government workers pension fund was “poised to go broke” with only 0.7 percent of the assets needed to pay all the benefits promised to the 119,975 employees it covers. This funding level is unheard of in other U.S. states--for comparison, New York State’s pension fund funding ratio was 88.7 percent in 2014.

10. A Fund for Treasury Department Instead, the administration had been using the Fund (which is primarily funded by contributions from employees) to provide liquidity to the Treasury Department.

11. Wealthy financiers are flocking to the island to take advantage of tax exemptions and cuts on corporate taxes, personal income, and capital gains. Wealthy financiers are flocking to the island to take advantage of tax exemptions and cuts on corporate taxes, personal income, and capital gains. A “Fiscal Paradise”

12. Massive Emigration More than 45,000 have left the Island in the last year. More than 45,000 have left the Island in the last year. Over 218,000 have abandoned Puerto Rico in the last 4 years. Over 218,000 have abandoned Puerto Rico in the last 4 years. According to the Federal Census Office Puerto Rico’s population will decrease to 2.3 millons by 2050. According to the Federal Census Office Puerto Rico’s population will decrease to 2.3 millons by 2050. That is the same number of inhabitants in 1950. That is the same number of inhabitants in 1950. Massive Emigration

13. How to face the debt crisis?  Under the current terms, the public debt is unpayable therefore; it must be restructured.  The government should audit the debt and declare a MORATORIUM on debt payments.  Future payments should not compromise the continuity of services.  The solution should not deepen the huge inequality gap.

14. Puerto Rico Credit Audit Comimission 14 A possitive step has been taken with the beginning of the work of the Puerto Rico Credit Audit Comission but we need the reosurces to do the work. A possitive step has been taken with the beginning of the work of the Puerto Rico Credit Audit Comission but we need the reosurces to do the work.

15. PROPOSALS  A debt restructuring that protects local interests.  Require the US government to fulfill its part of the responsibility.  Progresive Tax Reform  Create and implement an Economic Development Plan in the interest of the people and not large economic interests.