Since its announcement, the POA has been touted as putting an end to five years of brutal structural adjustment. For instance, Natalie Jaresko, executive director of the unelected Financial Oversight Board that has dictated Puerto Rico’s finances since 2016, celebrated the POA as a “new chapter in Puerto Rico’s history.” Gov. Pedro Pierluisi suggested that while the POA is “not perfect,” it ultimately protects Puerto Rico’s vulnerable public sector. In contrast, a multisectoral coalition of teachers, labor, pensioners, students and activists expressed immediate rejection of what they call the “plan del tumbe” (the shakedown plan). These groups have long been demanding a comprehensive debt audit, calling attention to the POA’s everyday implications, and resisting its confirmation by mobilizing online, in the streets, the legislature and the courts.
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