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This all sounds very optimistic. The reality is that there isn't a certain way for the current electrical power authority to obtain this kind of capital and/or
by jaxelr 9y ago
This all sounds very optimistic. The reality is that there isn't a certain way for the current electrical power authority to obtain this kind of capital and/or assets to execute this kind of plan.
- hkmurakami 9y agoConsidering their sovereign debt situation I can't imagine the debt markets will be receptive either.
- himom 9y agoPR won’t be able to finance the majority of repairs, it’s just not realistic. The US Govt, including FEMA, will have to help Americans rebuild. Otherwise, PR will be de facto depopulated by migration to the US and elsewhere.
- billylindeman 9y agoThey should do an ICO! =]
- pm90 9y agoIsn't is possible to raise money for Infrastructure-specific projects, which would be paid back by with revenues raised from selling power? I don't understand why its not a good investment: all people need power, they need to buy it somewhere right? If they had a clause which said revenues from the customers would be first used to pay back the specific debt... is that possible?
- ropiku 9y agoIt is a good investment until due to mismanagement they don't make enough revenue to pay up. PREPA is already in default on their bonds so I don't see how they can convince anyone to lend them even more money. The previous bondholders probably have dibs on the income stream already.
- giarc 9y agoI think you are describing a Public Private Partnership. http://ppp.worldbank.org/public-private-partnership/overview/what-are-public-private-partnerships http://ppp.worldbank.org/public-private-partnership/overview...
- mkempe 9y agoPuerto Rico's government debt was in crisis before the hurricane hit: outstanding bond debt of $70 billion ($12,000 per capita); very high poverty rate; and 10+% unemployment. Maybe they could try to become a new Hong Kong in the Caribbean Sea. Rule of law, deregulation, free markets even for power production and distribution. Tourism is a small part of their economy, and never a solid, prosperous plan.
- wallawe 9y agoDon't know why you're being downvoted. This has worked well in Singapore as well. PR already moving in that direction too: if you claim full-time residency or incorporate there (183 days/yr), US citizens can avoid paying lots of different types of taxes [1] https://www.the2022actsociety.org/index.php/tax-incentives https://www.the2022actsociety.org/index.php/tax-incentives
- mkempe 9y agoYes, whenever someone suggests prosperity via free markets and free minds here their comments are downvoted. If PR could become a new Singapore or Hong Kong we would all benefit.
- evanlivingston 9y agoRight, so if there is substantially less tax burden why don't we see rapid development and prosperity?
- johnnymonster 9y agoWhen i visited there last year, and talked to residents, it appears there is a lot of corruption that goes on, which seems to do more harm than good to their economy.
- debacle 9y agoThat's not really the culture of Puerto Rico.
- stupidcar 9y agoIt's $17bn over the 10 year projected lifetime of the implementation. So "only" $1.7bn a year (roughly, the projected yearly costs ramp up until 2025, then drop a bit). That's easily do-able through federal assistance funding. Nutrition Assistance For Puerto Rico already gives $1.5bn of federal money every year, for example: https://en.wikipedia.org/wiki/Nutrition_Assistance_for_Puerto_Rico https://en.wikipedia.org/wiki/Nutrition_Assistance_for_Puert...