Segui Cordero discusses PROMESA and La Junta

We begin by noting that this year marks the decade, 10 long years during which Puerto Rico has been subjected to an unprecedented colonial legal framework.

Under the territorial clause of the U.S.

Constitution, the U.S.

Congress passed the Promesa Act in 2016, using that law to impose the Financial Oversight and Management Board, or La Junta de Control Fiscal, as we refer to it in Puerto Rico.

For 10 long years, our people have been subjected to the unilateral and authoritarian control of the board, exercising power akin to that of a military regime,

which without local expertise decides how much of our people's money is allocated to education, essential services, public safety,

and housing, but largely how much of it is cut to hand over to vulture funds.

The board also has struck down legislation passed by the democratically elected

Legislative Assembly of Puerto Rico and signed by the executive branch, violating the democratic principle of the consent of the governed and representing significant setbacks in the protection of our human and civil rights, as you have heard before me.

Because of the board, we stumble upon one crisis to the next to pay off an unpayable, odious, and illegal colonial debt owed to Montalbillion dollar voter funds.

Because of the board, daily life in Puerto Rico is extremely difficult due to the impact of austerity measures that they have imposed.

Puerto Ricans know all too well the human impact of repaying abusive debts and the predatory practices of vulture funds.

That is why we support Resolution 28, because New York, as the United Nations has already stated, must stop enabling and abetting these investment practices that are harming the entire world.

We are continuously forced to endure it all, from power outages to crisis, regarding access to potable water, all due to the lack of public investment caused by the board.