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Pierluisi Condemns García Padilla for Declaring Emergency at GDB

By on April 9, 2016

SAN JUAN – Resident commissioner and New Progressive Party (PNP) candidate for governor Pedro Pierluisi condemned Gov. Alejandro García Padilla’s executive order declaring a state of emergency at the Government Development Bank (GDB).

Pierluisi said Saturday that the measure “is the latest and most obvious evidence of García Padilla and his administration’s lack of ability to govern.”

“Gov. García Padilla continues improvising and making wrong decisions that continue to cause damage to our economy and to the credibility and good name of Puerto Rico,” the politician stated.

He said “the governor has repeated ad nauseum the excuse that he inherited this crisis. But the truth is he and his administration have seriously worsened instead of solving it.”

He explained that the current government began its administration with the “GDB having nearly $2 billion in liquidity, an open market willing to finance and refinance the debt of Puerto Rico if responsible fiscal measures and the necessary transparency were maintained.”

However, he said, “This governor and his legislature have created an unprecedented crisis on the island that today, they say, forces them to take this disastrous measure.”

“This ‘state of emergency’ in the GDB, declared under the recently approved Moratorium Law, suffers from the same defects of that law: it is incompatible with our Constitution and our laws and represents an illegitimate exercise of power by the governor that looks more like the president of a socialist government than a U.S. governor,” Pierluisi stated.

The congressman acknowledged that over the past decade the the island’s fiscal situation has been “difficult” and that responsibility is “shared,” but said that “while in the past administration of the New Progressive Party fiscal responsibility measures that strengthened our credit were taken and we were headed in the right direction, this administration has done the opposite.”

Inter News Service

Gov. Alejandro García Padilla and Resident Commissioner Pedro Pierluisi

Gov. Alejandro García Padilla and Resident Commissioner Pedro Pierluisi

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