Puerto Ricans Gather at Diaspora Summit as Island Begins Bankruptcy Process

Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Abby Wilhelm, Communications Director
abby@jubileeusa.org

Puerto Ricans Gather at Diaspora Summit as Island Begins Bankruptcy Process

WASHINGTON - Puerto Ricans from across the United States and the Caribbean island are meeting in New York City to discuss ‎the island's economic crisis. The "Diaspora Summit II" is organized by Centro, a center for Puerto Rican studies based at Hunter College. The two-day event comes days ahead of the island's first scheduled bankruptcy proceeding.

"We've seen action on Puerto Rico because of the strong voice of the Puerto Rican community.” stated Eric LeCompte Executive Director of the religious development group Jubilee USA. LeCompte is addressing the summit on the Puerto Rico bankruptcy process and economic crisis. “We are grateful to Dr. Edwin Meléndez and the team at Centro for convening and informing the Puerto Rican community at such a critical time." 

US District Judge Laura Taylor Swain will preside over Puerto Rico's debt proceedings and scheduled an initial hearing in San Juan for Wednesday, May 17.

"Puerto Rico will not see economic growth until the island sees significant debt relief," noted LeCompte who will attend the opening of bankruptcy proceedings in Puerto Rico next week. LeCompte testified to Congress on the structure of the island's bankruptcy process and testified to the oversight board to activate the process. "Puerto Rico's bankruptcy process is a model for addressing financial crisis all around our world."

Event details about the Diaspora Summit II can be found here.

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Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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