Page 12 - ARUBA TODAY

A12 WORLD NEWS
Wednesday 1 november 2017

Puerto Rico faces cash shortfall after Hurricane Maria

currently running on cash tions High Commissioner for
reserves. Portela said Puer- Human Rights said on Mon-
to Rico will inevitably face day that the conditions in
a cash crunch. Puerto Rico are “alarming”
The warning was issued at more than a month after
a meeting organized by a the storm hit.
federal control board that “The hurricane has aggra-
oversees Puerto Rico’s fi- vated the island’s existing
nances. Board executive dire situation caused by
director Natalie Jaresko debt and austerity mea-
said hurricane recovery ex- sures,” the office said in a
penses are substantial and statement.
that not all will be paid by That assessment contrast-
the federal government. ed with comments made
“We need to work with by Michael Byrne, Puerto
every single possible re- Rico’s federal coordina-
source,” she said. tion officer for the Fed-
Jaresko also stressed the eral Emergency Manage-
need for specific numbers ment Agency, who said
on how many Puerto Ri- at Tuesday’s meeting that
cans have left the island his agency was seeing a
In this Oct. 15, 2017 photo, Whitefish Energy Holdings workers restore power lines damaged by to get a sense of the eco- turnaround in Puerto Rico.
Hurricane Maria in Barceloneta, Puerto Rico. Puerto Rico’s struggling government warned on Tues- nomic effect. Some ex- He noted that more than
day that it will face a cash shortfall by the end of the year and will seek billions of dollars in ad- perts have said the island 1 million people on the is-
ditional federal funds. of 3.4 million people could land have registered for
(AP Photo/Ramon Espinosa) lose more than 10 percent assistance.“This is going
By DANICA COTO es and fees, worsening an aid to the island. of its population by 2019, to be one if not the larg-
Associated Press 11-year recession. Tens of thousands of peo- with nearly half a million al- est efforts that we’ve ever
SAN JUAN, Puerto Rico (AP) “The severity of the storm ple have left Puerto Rico, ready having left as a result undertaken based on the
— Puerto Rico’s struggling dislocated the island’s thousands of businesses of the crisis. estimates as the dam-
government warned on economy,” said Gerardo remain closed and the is- “We need to look at what ages continue to reveal
Tuesday that it will face a Portela, executive direc- land’s power company is this post-hurricane Puerto themselves.”As reconstruc-
cash shortfall by the end tor of Puerto Rico’s Fiscal generating only 30 percent Rico reality is,” Jaresko tion efforts continue, con-
of the year and will seek Agency and Financial Ad- of its normal output. In ad- said. “We need to provide tracts awarded to compa-
billions of dollars in addi- visory Authority. “The lack dition, some 20 percent services, but only for the nies in Puerto Rico and the
tional federal funds to help of electric power has fur- of people remain without population that remains on U.S. mainland are receiv-
it cope with the expenses ther deepened the crisis.” water.Puerto Rico’s gov- the island.” ing greater scrutiny.
caused by Hurricane Ma- Portela said it was not yet ernment said it will see an Jaresko also said the board Jaresko said any local
ria. clear how much it will cost estimated reduction of $1.7 will hold three public ses- government contract
Officials said the devastat- to rebuild Puerto Rico, but billion in cash as a result of sions in upcoming weeks to worth more than $10 mil-
ing storm imposed enor- he said the island suffered reduced collections, with get a better understanding lion must be turned over to
mous emergency costs an estimated $45 billion to an additional estimated of the hurricane’s effects the board for review, and
while causing an estimated $95 billion in damage. So $1.18 billion reduction in on the island’s economy even lesser contracts also
50 percent drop in the U.S. far, U.S. Congress has ap- power and water income, and other sectors. could be reviewed.Puerto
territory’s collections of tax- proved nearly $5 billion in with those two agencies The Office of the United Na- Rico’s government said this
week it would scrap a $300
Argentina: million contract awarded
Airline strike grounds thousands of passengers to Whitefish, a small pow-
er company based in the
hometown of Interior Sec-
BUENOS AIRES, Argentina pany Austral Lineas Aereas Newbery airport in Buenos says that the company retary Ryan Zinke that had
(AP) — A strike by workers are demanding a 26 per- Aires was inactive due to might take legal action. only two full-time employ-
of two of the largest airlines cent salary hike in line with the strike, while several ar- The group says passengers ees at the time when the
in Argentina caused the the inflation rate. eas of the Ezeiza airport can change the date of storm hit. The contract is
cancellation of dozens of The Telam state news agen- in the outskirts of the Ar- their flights at no charge. being audited at a local
flights and the grounding cy said that about 40,000 gentine capital remained Union secretary general and federal level.
of tens of thousands of pas- people have been affect- empty at midday. Ruben Fernandez tells local The board also has ap-
sengers on Tuesday. ed and 300 domestic and The president of the Aero- news media that the unions pointed retired Air Force
Unions representing state- international flights have lineas Argentinas group is will likely stage other strikes Col. Noel Zamot to over-
run carrier Aerolineas Ar- been canceled by the 24- criticizing the unions rep- if their demands are not see power reconstruction
gentinas and sister com- hour stoppage. The Jorge resenting the workers and met.q efforts. q