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The WCC has called on the U.S. government to address the dire financial situation of Puerto Rico, a U.S. territory, and for the U.S. Congress “to enact a rescue plan urgently.”
The committee explained: “Puerto Rico is facing a serious financial and economic crisis and currently has a debt of more than US$70 billion that it cannot afford to repay. The current crisis has been years in the making and is not limited solely to the public debt overhang. At the core of the current predicament is a deteriorated development model and economic institutions that have hindered sustainable growth. The financial crisis is affecting millions of people and causing schools to close, and placing basic needs such as healthcare and other public services at risk. Puerto Rico continues to suffer from the consequences of colonialism, racial disparities, inequalities and poverty.”
Along with unemployment and violence, the situation has precipitated massive migration of Puerto Ricans to the U.S.
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