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THURSDAY, JANUARY 14, 2016 | VOL. 1 EDITION 9
| WEEKLY $2.00 | © 2016 LATIN MEDIA HOUSE, LLC | CARIBBEANBUSINESS.PR
U.S. Congress X-Rays Prepa Debt Restructuring
Capeco Civil Suit Slated to Begin
Another Early Retirement Bill Aims to Trim Budget
The Supremes Weigh-in on Sánchez Valle Case
Hearings Showcase Complexity of Negotiations
Shipping Company Files Third-Party Complaint
Measure Targets Close to 1,000 Public Workers
Status Issues Underpin ‘Double Jeopardy’ Question
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COVER STORY
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TOP STORY
Bacó: Bernier an Agent of Change for Puerto Rico Sees Room for Economic Development Under Commonwealth Status
The Year Ahead
Alberto Bacó, who as secretary of Economic Development & Commerce is the top governphqw# rĿ # # fldo# lq# fkdujh# ri# Sxhuwr# Rico’s economic development, said David Bernier has a series of txdolwlhv#wkdw#vhw#klp#dsduw#dv#wkh# jxehuqdwruldo# fdqglgdwh# iru# wkh# Srsxodu#Ghprfudwlf#Sduw|#+SGS,#lq# the coming elections in November 2016.
phqw#deryh#Ľ#vfdo#lvvxhv/#glgqġw#jr# into the reasons he believes García Sdglood# idlohg# lq# klv# dwwhpsw# wr# implement projects to strengthen Sxhuwr#Ulfrġv#hfrqrp|#dqg#Ľ#qdqfhv1 ģL# wklqn# Ehuqlhu# kdv# glļ#huhqw# txdolwlhv/# xqltxh# txdolwlhv/Ĥ# EdfÕ# said. “He is self-made [and] has dozd|v#dfklhyhg#frqvhqvxv1Ĥ Bacó believes that since several administrations have experiment-
In an interview with Caribbean Exvlqhvv/# EdfÕ# kljkoljkwhg# wkdw# contrary to Gov. Alejandro García Sdglood/# Ehuqlhu# kdv# rwkhu# txdol0 wlhv# vxfk# dv# klv# delolw|# wr# olvwhq/# vhdufk# iru# dqg# dfklhyh# frqvhqvxv# rq#pdq|#lvvxhv1 Bacó, who has the intention of sending all candidates for governor a list of seven points that place the island’s economic develop-
ed with ways that haven’t yielded dq|# uhvxowv/# Ehuqlhu# vkrxog# eh# given the space to see what he can achieve. ģZkdw#L#vhh#lv#wkdw#kh#vxuurxqgv# himself with good people and that he listens, and those are very good txdolwlhv/Ĥ#vdlg#EdfÕ/#zlwkrxw#jrlqj# into details.
García Padilla Advisers Bogged Down in Debt-Packed 2016 The new year will mark a sigqlĽ#fdqwo|# vkdphixo# plohvwrqh# iru Sxhuwr#Ulfr1 The new calendar year that began 14 days ago marks the ninth year rxw#ri#43#wkdw#Sxhuwr#Ulfr#kdv#h{sh0 rienced stagnation or no economic growth. Sadly, there’s nothing on wkh# krul}rq# wkdw# frxog# wuljjhu# dw# ohdvw# d# plog# hfrqrplf# wxuqdurxqg lq#wkh#iruhvhhdeoh#ixwxuh1 On the contrary, the island’s linjhulqj# Ľ#vfdo# fkdoohqjhv/# shqglqj# debt obligations, the rise in the interest rates by the Federal Reserve, uhfrug# rxwpljudwlrq# dqg# srsxod0 tion loss, and the implementation
ri# dq# 4418(# ydoxh0dgghg# wd{/# ru YDWğzklfk#lqfoxghv#dq#lqfuhdvh#wr# wkh#7(#exvlqhvv0wr0exvlqhvv#+E5E, wd{#wr#4318(ğzloo#frqwlqxh#wr#vwdoo any prospects of economic growth for the island in 2016 and beyond. NEGATIVE TREND CONTINUES A real positive-growth rate of 31<(# lq# Ľ#vfdo# 5345# lqwhuuxswhg Ľ#yh0frqvhfxwlyh# |hduv# ri# qhjdwlyh# jurzwk# lq# Sxhuwr# Ulfrġv# jurvv# qd0 wlrqdo# surgxfw# +JQS,1# Dffruglqj# wr# wkh# Sxhuwr# Ulfr# Sodqqlqj# Erdugġv 2014 Economic Statistical Appendix +wkh#prvw##uhfhqw#hglwlrq#dydlodeoh,/# wkh#lvodqgġv#JQS/#lq#uhdo#whupv/#gh0
fuhdvhg# 415(# gxulqj# 533:/# 51<(# lq# 533;/#61;(#+533<,/#619(#+5343,#dqg# 41:(#+5344,1 “Contrary to the widely held perception, this data indicates that the recession that started in 2006 kdvqġw# odvwhg# iru# qlqh0frqvhfxwlyh years. On the contrary, the 2006 refhvvlrq#hqghg#dw#vrph#srlqw#gxulqj 2012, with the economy exhibiting positive, albeit weak, economic jurzwk#iru#d#|hdu/Ĥ#Fduorv#D1#FroÕq# gh# Dupdv/# hfrqrplvw# )# Ľ#qdqfh surihvvru# lq# Xqlyhuvlw|# ri# Sxhuwr# Ulfrġv# +XSU,# Vfkrro# ri# Exvlqhvv/ h{sodlqhg#wr#Fduleehdq#Exvlqhvv1 BY JOSÉ CARMONA PAGE 14-17
BY ISMAEL TORRES CONTINUES ON PAGE 4