03/2020 …And Then Came the Day After Tomorrow

What awaits Puerto Rico after the COVID – 19 crisis

The Covid-19 pandemic is PR’s third major disruptive event in the last three years. Tempting as it may be to blame fate for this, it remains true that destiny is very much molded by our own decisions, actions and, in many cases, our downright procrastination. The ongoing health crisis created an unprecedented paralysis around the Western world, unseen even in the midst of the financial crisis, that stands to be the biggest black swan event in modern memory. For us, it could not have come at a worst moment: in the middle of ongoing debt renegotiations, a yet-to-be implemented debt adjustment plan, and an economy that was headed for negative growth in 2021 prior to the current crisis. Changes to the functioning of domestic markets will take place, some of them much-needed, but our fundamental challenges will be waiting for us once the pandemic is controlled. We need to have a plan and execute.