The board, which is essentially charged with overseeing the liquidation of Puerto Rico’s assets to maximize debt repayments and approving all major economic decisions, is known in Puerto Rico as “La Junta.” For many, the name is a commentary on the fact that the board represents a kind of financial coup d’état: Puerto Ricans—unable to vote for president or Congress but forced to live under U.S. laws—already lacked basic democratic rights.
