Dick Larkin : DEBTORS ANONYMOUS:12 STEPS TO RECOVERY FOR PUERTO RICO

Wednesday, Aug 17, 2016

In November, 2014, I gave a speech in Puerto Rico outlining 5 things that Puerto Rico needed to do to avoid default & bankruptcy:

  1. Implement a multi-year budget plan, instead of merely focusing on the next 365 days;
  2. Improve disclosure for all investors, not just privileged large funds and companies with “confidential” access to current financial information (PREPA);
  3. Institute regular meetings with bond raters, not merely to discuss what has occurred, but to present an image of where Puerto Rico was going;
  4. Establish stronger polices and a clear role for using the Government Development Bank to support stronger financial policies for itself and the Commonwealth; and
  5. Mount a strong, positive public relations campaign to improve Puerto Rico’s “tarnished image”, similar to the “I  New York” campaign of the 1970’s. 

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