November 13, 2018Puerto Rico
President Trump is right to worry that disaster aid will end up bailing out the holders of Puerto Rico's bonds, but there are better solutions to that particular problem than cutting off disaster aid…
October 2, 2018Nigeria
Nigerians fear that flooding in October 2018 could be as bad as or worse than it was in 2012, when two million Nigerians were displaced and 363 died. In 2015, floods displaced 100,000 and led to 53 deaths. In 2016, 92,000 were displaced 38 died. In 2017, floods affected 250,000.
September 27, 2018Puerto Rico
Puerto Rico’s government and the bulk of the holders of Puerto Rico’s Sales tax backed bonds (COFINA) appear to have reached agreement on restructuring terms (details here). The deal will reduce Puer…
February 22, 2018Puerto Rico
Puerto Rico’s latest fiscal plan appears to use a best case scenario as its base case. It consequently doesn’t provide a realistic benchmark for evaluating Puerto Rico’s long-run capacity to pay.
July 16, 2018Puerto Rico
Sales tax revenues have recovered. Fiscal year 2019, which started in July, should be a good year thanks to Federal disaster aid. The real question though is what happens when Federal aid starts to f…