Vélez-Hagan, PUBL, Weighs in on Puerto Rico's Fiscal Crisis

With Puerto Rico currently $72 billion in debt, School of Public Policy Ph.D. student Justin Vélez-Hagan has been in the news recently explaining the severity of the situation and its potential impact on the world economy.

Vélez-Hagan, who is executive director of the National Puerto Rican Chamber of Commerce, shared his views on what has contributed to the debt crisis and what can be done to help get the economy back on track. “Not being able to have autonomous control over all of its policies puts Puerto Rico at a major disadvantage over other economies that it competes with for labor, business investment, and tourism,” he wrote in an op-ed for Fox News Latino.   

Vélez-Hagan was also a guest on “The Takeaway with John Hockenberry,” a co-production of WNYC Radio and Public Radio International, in collaboration with the New York Times and WGBH Boston, to discuss the debt crisis. “The best solution is really a court overseeing restructuring through Chapter 9 bankruptcy. I think would be the best way to start,” he said during the segment.

Update: Watch an interview with Vélez-Hagan that aired July 13 on the Al Jazeera English world broadcast about his analysis on Puerto Rico’s fiscal crisis.