The United States and the PROMESA to Puerto Rico: an analysis of the Puerto Rico Oversight, Management, and Economic Stability Act

Your guide to understand why the Board controls
and what their priorities will be in their governing of Puerto Rico

WHAT DID IT PROMISE?

Under the PROMESA, although the Puerto Rico Governor and Legislature will still be elected by Puerto Ricans, their laws, regulations, executive orders, fiscal, financial and economic decisions must be reviewed and approved by an Oversight Board whose seven members are appointed by the U.S. President.

WHAT IS BEHIND THE PROMESA?

This book analyzes the U.S. Congress's discussions and drafting of the PROMESA, as well as all drafts of the PROMESA, and discusses:

• how the PROMESA prohibits Puerto Ricans and the Puerto Rico government access to the courts to review the Board's decisions;

• how the PROMESA eliminates the protections Puerto Rico had included in its bond documents;

• how the Board controls, designs, and establishes Puerto Rico's public and social policies;

• how the PROMESA makes it very easy to privatize Puerto Rico's assets; and

• the hurdles in the implementation of the law.

The PROMESA shows how Puerto Rico's economic and fiscal crises, with their underlying issues of lack of autonomy and political power, are being used by the U.S. Congress and some U.S. special interest groups to protect their interests at the expense of Puerto Ricans.

With notes and bibliography.