What Puerto Rico Really Needs

Beyond Puerto Rico’s undefeated march to the World Baseball Classic final, it seems the island can’t catch a break. Mediated talks between its government and debtors over how to restructure its $70 billion debt before a key May 1 deadline aren’t going well, although failure would expose Puerto Rico to a torrent of lawsuits or court-mediated restructuring. Even more worrisome for the population, stakeholders pouring over debt payments are not addressing the outdated model that is at the core of Puerto Rico’s economic stagnation or taking steps to promote growth – arguably the most important...

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