Organismo de las Naciones Unidas acoge declaración de Puerto Rico

Cepal-logoMÉXICO  – La Comisión Económica para América Latina y el Caribe (CEPAL) en el Trigésimo sexto período de sesiones de este organismo, acogió una declaración de Puerto Rico para crear conciencia en organismos internacionales sobre la importancia de que Puerto Rico obtenga las herramientas necesarias para reestructurar su deuda pública y asegurar un desarrollo económico sostenible, informó el sábado, el secretario de Estado, Víctor Suárez Meléndez.

El evento se celebró durante esta semana en México del 23 al 27 de mayo de 2016.

“Es importante que Puerto Rico se integre a una agenda de colaboración y alianzas comerciales estratégicas propuesta por la CEPAL. La agenda denominada Horizonte 2030, aprobada por las Naciones Unidas en septiembre del 2015, establece las estrategias que seguirá la CEPAL para fomentar la colaboración comercial entre los países de América Latina y el Caribe”, sostuvo Suárez Meléndez en un parte de prensa.

La Organización de Naciones Unidas estableció la CEPAL en 1948, para contribuir al desarrollo económico y social de América Latina y el Caribe, coordinar acciones encaminadas a su promoción y reforzar las relaciones de los países entre sí y con las demás naciones del mundo. Puerto Rico participa de este organismo internacional en calidad de miembro asociado desde el 1990.

El secretario de Estado aseguró que esta iniciativa apoya y dará continuidad a los esfuerzos hechos por la administración del Gobernador, Alejandro García Padilla, para crear alianzas comerciales estratégicas con distintos países de América Latina y el Caribe que fomenten que empresas puertorriqueñas exporten sus bienes y servicios, como ya Puerto Rico lo está haciendo tras los esfuerzos del Departamento de Estado con República Dominicana, Panamá, Colombia y Perú. Además, aseguró que está trabajando para que empresas puertorriqueñas participen en licitaciones de proyectos financiados por el Banco Mundial en toda América Latina.

“Llevamos una década en recesión económica y necesitamos con urgencia recuperar la capacidad de producir y crecer. Precisamos también reestructurar una deuda pública de sobre 70,000 millones de dólares, que resulta impagable, y no tenemos mecanismos para hacerlo”, sostuvo el Secretario mediante la declaración adoptada por la CEPAL.

Además, el secretario de Estado anunció que pronto se dará a conocer el Primer Informe sobre Desarrollo Humano en Puerto Rico, esfuerzo que por los pasados dos años ha estado a cargo de un equipo multidisciplinario de profesionales puertorriqueños con la asistencia técnica del Programa de Naciones Unidas para el Desarrollo. Este primer informe, junto con el documento preparado por la CEPAL para este período de sesiones, “Horizontes 2030: la igualdad en el centro del desarrollo sostenible”, auguran que Puerto Rico también estará impulsando el desarrollo humano sostenible como eje de todas sus políticas.

1 comentario


    By Carlos Mirabal-Pargas, CLU, ChFC – May 2016
    The Puerto Rico (PR) bonds were rated investment grade by the US Credit Rating Agencies (S&P; Moody’s and Fitch) dubbed the “The New Masters of Capital” by Cornell University Professor Timothy Sinclair who are “regulated” by the Securities and Exchange Commission (SEC). The same Agency allowed UBS and others to sell bonds to themselves and others in transactions that were not legal in USA since 1940.
    These practices were legal in PR and so this was the argument used in court by UBS. This gross negligence allowed dealers to “legally” make a feast for quite a long time. It crippled many individuals as well as PR Government Employees Pension Funds.
    Investors all over USA (individuals and institutional) loved PR’s Municipals, Triple Tax Exempt Bonds as they were exempted from all forms of tax, Federal, State and local.
    For this, I am sure all resources were deployed to make sure the bonds were issued. Besides, the yield, was 5-6 times higher than all others. Just imagine an insured, investment grade paper with a taxable equivalent yield of around 9-10%.
    Now, the Vulture Funds puts PR US citizens at odds with the mainland US citizens through a misleading campaign portraying Puerto Ricans as lazy and opportunist.
    PR has been an immensely productive gold mine for the US ever since the beginning. In the early days it was sugar, then manufacturing, then pharmaceuticals and the latest, financials.
    According to a recent presentation at NYU by Democracy Now Org., it is very evident that in spite of the PR government’s financial situation the market still very important to US companies who in 2010 GAP (difference of GNP vs GDP) took in $33 Billion in just one year.
    The Government of PR instead of having the governor speak at Congress it must have hired Democracy Now!’s co-host Juan González. It would have done a great favor to all, Congress, Raul Labrador’s constituents, and PR. Juan González, a longtime columnist for the New York Daily News and is Andrés Bello’s chair in Latin American cultures and civilizations at New York University.
    He was inducted into New York’s Journalism Hall of Fame along with, among others, PBS’s Charlie Rose, Lesley Stahl of 60 Minutes and Max Frankel of The New York Times. He’s written several books, including Harvest of Empire: A History of Latinos in America. Juan González spoke at New York University, his address titled “Puerto Rico’s Debt Crisis: Economic Collapse in America’s Biggest Colony and What Can Be Done About it”! (
    It is important to understand that bonds are currently insured by a few (3-4) insurance companies (AMBAC, MBIA and Assured Guarantee) so they cannot allow PR to go bankrupt and thus, no Chapter 9.
    Evidently someone anticipated the risk and removed PR from bankruptcy protection. So besides the Vulture Funds, the insurance companies are also lobbying against PR. Understandably, bankruptcy will hurt the bond industry as PR current claims will put in jeopardy the current insured AAA bonds, as well as possibly curtail new issues.
    The PR market is so huge that shipping costs alone, which are imposed on PR but not to the US Virgin Islands, represents over $536 Million per year per two UPR economists in 2010.
    In essence, by vicarious responsibility, the Federal Government by omission or commission had a lot to do with the Puerto Rico bonds demise. The situation has not been the same as with any other state.
    From its inception, PR has had no say. From the Treaty of Paris in 1898 which some called the treaty “a real estate closing”, to the Jones Act in 1917 where Puerto Ricans were granted US citizenship with no representation and no vote with the “coincidence” being, that one month after, US Declared War to Germany and PR men were drafted to the US Military.
    In World War II, according to the Department of Defense, more than 65,000 PR soldiers were deployed. Make no mistake the price has been steep and counting. This was just one month and 22 years of granting its US citizenship.
    Someone must tell Congressman Raul Labrador and its constituents why, for his own constituent’s health and all of the US bond market, PR needs to be protected and regarded like no other state of the Union.
    He should be informed of the troubled history of PR/US relations. In everybody’s best interest, US citizens, US corporate investments in PR and their future business flow, bond insurers, bond industry as a whole, the US Government should make whole the PR bond buyers (investors) who were induced and misled to invest.
    Also, US Government should also follow the money of those who with impunity have been allowed to prevail and miss use funds in PR. Bankruptcy only places the burden on the innocent investors.
    Yes, we are talking about $70 Billiion but it is a drop in the bucket compared to the Trillions that the Corporate Socialism of 2008 bailed out the Banks and Financial Institutions in which just to AIG an $85 Billion was granted.
    Congress should factor in all the collateral damage it will inflict upon the US corporations and their employees who serve the PR market as well as the bond market in general. I assure you, IT IS TOO BIG TO FAIL!
    The same as AIG has repaid, it should allow PR to repay back by simply allowing PR to use the shipping vessels that suits the particular needs, not force US ships upon PR the same as it has done with the US Virgin Islands. This will produce around $500 Millions a year with which the US sponsored restructure can be serviced. Thus a win-win for all, including Bond Insurers and the Bond Market as a whole.
    I hope and pray that someone brings common sense to this situation as I find this a very easy problem to solve. It should place both, PR and US on the same side of the fence and look at the history to correct the mistakes of the past and show the world that reason, common sense and democracy prevails and not allow Hedge Funds financial interest to put US citizens at odds for their own health.
    Two mistakes do not make a right. Reason and moral values should prevail. Show the world you can, this is no rocket science.
    Carlos Mirabal-Pargas, CLU, ChFC