In this episode of Debtwired!, Debtwire Municipals Managing Editor Paul Greaves speaks with David Skeel, professor at the University of Pennsylvania Carey Law School, former chair of the Financial Oversight and Management Board of Puerto Rico, and author of Promise Land, on Puerto Rico’s progress ten years after the fiscal crisis and the questions that will shape the island’s next decade.

Using the 10-year anniversary of PROMESA as a lens, the discussion examines the legacy of Puerto Rico’s restructuring, what the oversight process achieved, and how policymakers, investors, and residents should assess the commonwealth’s progress since the enactment of federal oversight. Skeel also discusses the themes behind Promise Land and the lessons he believes readers should take from Puerto Rico’s experience.

The conversation then turns to the challenges that remain, including the path beyond Financial Oversight and Management Board oversight, the conditions needed for long-term fiscal stability, and the broader issues of economic development, governance, energy infrastructure, and market access that will influence Puerto Rico’s future.

The podcast closes by looking ahead to the next decade, asking what would ultimately define success for Puerto Rico and exploring the factors that give Skeel optimism, as well as the risks that continue to concern him, ten years after the fiscal crisis reshaped the island’s financial trajectory.

Listen now: Spotify | Apple Podcasts