04-05/2020: PR Economy Interrupted by COVID19
Witnessing a perfect socioeconomic storm
To date, there close to 6 million infected persons and 360,000 deaths globally caused by Covid-19. The US has posted 1.7 million infected persons and over 102,000 deaths. Covid-19 seems to have spared Puerto Rico with 3,486 infected persons and 131 deaths so far. Lockdowns and border closings for persons as well as trade have disrupted commerce and tourism. Reopening these economies will take time and international policies towards migration are reinforcing self-sufficiency and a more inward, self-reliance bias. Puerto Rico has gone through: a more than a decade-long recession, a government debt crisis, a devastating hurricane, earthquakes, and now the COVID-19 pandemic. As an island, Puerto Rico is more vulnerable to all these biases and requires more strategic, forward looking planning and execution than we had over the past 3 decades. Find out what is the short-term outlook for the global, US, and Puerto Rico economies. We know we are in trouble, but there are opportunities.