Hurricane Maria made landfall on Puerto Rico as a Category Four hurricane, two weeks after Category Five Hurricane Irma wrought severe wind and flood damage to much of the island’s infrastructure as it passed north of San Juan. Hurricane Maria brought down Puerto Rico’s dilapidated power grid, leaving most of the population without electricity for six to eight weeks. Puerto Rico faces an immediate humanitarian and potential public health crisis, at time when the island commonwealth is under federal oversight and protracted fiscal stress.
Rising insurance premiums will add further obstacles to securing private investment in manufacturing.
Despite lucrative tax exemptions, dollar-rich US retirees are likely to look elsewhere in the region for second homes.
Debt hawks in Congress are unlikely to approve lower-profile support bills for Puerto Rico after their earlier concessions.
