WASHINGTON, DC -- Power 4 Puerto Rico— a coalition of diaspora leaders and allies advocating for the island and displaced families— today released the following statement rejecting US Judge Laura Taylor Swain’s decision to approve the unsustainable Plan of Adjustment (POA) to restructure Puerto Rico’s general obligation (GO) and other debts:
“Power 4 Puerto Rico has consistently called for the abolition of the unelected, undemocratic and conflicted Junta ruling over Puerto Rico. The US law that created the Junta –PROMESA– is nothing short of enhanced colonialism. The actions of the Junta have imposed catastrophic austerity on the backs of working Puerto Ricans, students and the most vulnerable. Now we are saddled with unsustainable debt payments for decades with little to no reforms to improve delivery of essential services, no tools for economic development, and no end in sight to the Junta's yoke on our people. Now is the time to audit the debt, cancel illegal claims and make Puerto Rico whole again.
“Judge Swain and the Junta have failed. President Biden promised to avoid these pitfalls and he too failed. Now it is up to Congress to abolish la Junta and cancel illegal debt. Too many lives are at stake for this decision to prevail.”
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ABOUT POWER 4 PUERTO RICO
Power 4 Puerto Rico is a coalition of diaspora leaders and allied organizations that works in Washington and throughout the nation to pressure for policy changes that will help Puerto Rico and its displaced families.