Promise Land: The Inside Story of the Puerto Rico Debt Crisis
August 5, 2026 Ten years ago, I got a call that changed my life. Congress had just enacted the Puerto Rico Oversight, Management, and Economic Stability Act—PROMESA, or “promise” in Spanish—Congress’s response to Puerto Rico’s dire economic crisis. PROMESA created a seven-person oversight board with the power to restructure Puerto Rico’s $74 billion of debt