Puerto Ricans Call on Judge Taylor Swain to Reject Agreement Between COFINA and Fiscal Board

PALM BEACH COUNTY, FL – Several community and nonprofit organizations within Puerto Rico, the U.S. and other countries such as Brazil have launched a campaign against the COFINA debt agreement.  These organizations and the concerned Puerto Rican diaspora are calling for the Honorable Judge Taylor Swain to reject the Financial Oversight and Management Board (FOMB) agreement with COFINA bondholders. The campaign urges the Puerto Rican diaspora and its allies to directly contact Judge Swain and express their repudiation towards such an agreement.

We ask that Judge Swain REJECT on January 16, 2019 the agreement between COFINA bondholders and the FOMB, as it will drag Puerto Rico into another economic crisis, due to the imposition of more austerity measures and cuts in public services and pensions. The agreement would lead to a new debt default, tying the people of Puerto Rico to a 40-year agreement.

Instead, we request a fair renegotiation and full audit to address the debt in a just way that is not severely burdensome for the country. For over 120 years, Puerto Ricans have been systematically excluded by the U.S. from the decisions making process on plans that directly affect them. We can change this. We need her to hear from all of us before the next hearing, in which she will make her final decision about the FOMB and COFINA agreement.

The hearing will be on January 16 at 10:30am local time in Puerto Rico’s Federal Court.

Lastly, Judge Swain will visit Puerto Rico this Wednesday, December 19, and organizations in Puerto Rico will have a press conference about this and other campaigns that morning. Please contact Frente Ciudadano por la Auditoría de la Deuda for further details.

In solidarity,

Diáspora en Resistencia, VAMOS Puerto Rico, Our Revolution Puerto Rico, ISP Interamérica (Brasil), Movimiento Borikua, Colectivo Ilé, Women’s March Florida (Palm Beach County Chapter), Frente Ciudadano por la Auditoría de la Deuda, Alianza for Progress, Federación de Maestros de Puerto Rico and many others.