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 Readout from a Treasury spokesperson on a roundtable discussion with Secretary Lew and NEC Director Zients on Puerto Rico’s fiscal situation


10/19/2015

WASHINGTON – Today, Secretary of the Treasury Jacob J. Lew and National Economic Council Director Jeffrey Zients hosted a roundtable discussion with a variety of stakeholders on Puerto Rico’s economic and fiscal challenges.

Secretary Lew and Director Zients discussed the Administration’s longstanding engagement with Puerto Rico officials in search of solutions for the Commonwealth.  Participants were briefed on the scope of Puerto Rico’s fiscal challenges and the Administration’s efforts to bring the federal government’s full capabilities to bear in providing assistance to the Commonwealth to speed its economic recovery.‎ Participants provided insight on the local impacts of the fiscal situation and potential solutions to these challenges.

Administration officials also discussed the need for congressional action to provide Puerto Rico with the tools it urgently needs, including access to an orderly restructuring regime.  Without federal legislation, a resolution across Puerto Rico's financial liabilities would likely be difficult, protracted, and costly. Secretary Lew and Director Zients reiterated the Administration’s commitment to work with Congress in pursuit of comprehensive solutions for Puerto Rico that address near-term challenges and promote long-term growth. 

Attendees included:

Barry Bosworth, Brookings Institution 
José Calderón, Hispanic Federation 
Juan Cartagena, LatinoJustice PRLDEF
Sara Clemente, League of United Latin American Citizens
Rafael Fantauzzi, National Puerto Rican Coalition
Chris Fox, AFSCME
Tracy Gordon, Urban Institute 
Julie Kushner, UAW
Robert Maldonado, Hispanic National Bar Association
Andrew Powell, InterAmerican Development Bank 
Mairym Ramos, SEIU
Richard Ravitch
Dennis Rivera, Puerto Rico Healthcare Crisis Coalition  
Eric Rodriguez, National Council of La Raza
Héctor Sánchez, National Hispanic Leadership Agenda 
Gretchen Sierra-Zorita, National Hispanic Foundation for the Arts
Heather Slavkin Corzo, AFL-CIO
Justin Vélez-Hagan, National Puerto Rican Chamber of Commerce
José Villamil, Estudios Técnicos
Rhina Villatoro, National Hispanic Caucus of State Legislators 

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