Alexander Soros wrote an op-ed for the Miami Herald outlining what he believes to be the solution to solve the problems Puerto Rico faces. Soros argues that philathropic ventures have a role to play, and they have not because of the status issue.
From the column:
Puerto Rico’s predicament should be a cause for action in the United States, and not just from financial institutions seeking to protect their investments. The philanthropic community can take the lead in helping the island address its many challenges.
To this point, charitable foundations have shared in the common misconception of the island’s status: American foundations do not treat Puerto Rico as if it were part of the United States, while international foundations do. Either way, as with so many of these apparent conundrums tied to their unusual status, it is the people of Puerto Rico who lose out.
Puerto Ricans losing out? Business as usual.
