Business

The Incomplete Task Left by Promesa

Published Jul 4, 2026, 11:15 PM ASTvia El Nuevo Día

At a glance

  • Private sector leaders call for introspection and a new institutional framework to reactivate the economy
  • They emphasize the need for a collective vision and an end to individualistic and personalistic views in positions of authority
  • The leaders believe that completing structural reforms is crucial for Puerto Rico’s development

Why this matters: Puerto Rico’s economic development and growth depend on effective management of resources and a collective vision.

Four private sector leaders, Zulmarie Urrutia, Ramón Pérez Blanco, Francisco Montalvo Fiol, and José Vázquez Barquet, who played a crucial role in the approval of the federal Promesa law a decade ago, believe it is time for the private sector to reflect and identify a route for economic reactivation in Puerto Rico. They argue that the private sector must modify its perspective on business management and that society as a whole must understand the importance of managing resources well.

Vázquez Barquet stated that despite numerous studies, nothing has changed, and there is no collective vision for the country, only individualistic and personalistic views in positions of authority. Pérez Blanco disagreed that the private sector has not been proactive, but acknowledged the need for change. The leaders emphasized the importance of completing structural reforms and developing a collective vision to end anti-development policies in Puerto Rico.

SourceEl Nuevo Día

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