The Weekly Journal - April 1, 2020

Page 1

Puerto Rico and the Caribbean

Wednesday, April 1-7, 2020 / no. 049

www.theweeklyjournal.com

/ Wednesday, April 1, 2020

ález / EL VOCERO

DEC Unveils Platform $60M Available to PyMES to offset Virus effects on businesses P6

Request Economic Incentives to offset the negative impact of the emergency measures established to flatten the curve of the coronavirus (COVID-19) pandemic. The $787 million plan includes $60 million to be distributed among the island’s PyMES by the Department of Economic Development and Commerce (DDEC by its Spanish acronym). DDEC Secretary Manuel Laboy said that business owners who meet the criteria can file a request to receive $1,500. The portal, http://www.refuerzoeconomico.com, was launched on Monday, March 30 and became available on March 31. “We established an easy and accessible process so that the applicant can complete the online form and include the merchant’s registration, along with other specific personal and business

Telemedicine, a Lifesaver for Patients with Chronic and Complex Conditions P8

y now submit their ns to receive $1,500 eposit ggarofalo@wjournalpr.com

@giopgarofalo

The Coronavirus Blues

>Archive

he government of Puerto Rico announced that small- and midsize businesses (PyMES by its Spanish acronym) will now be able to digitally request the incentives included in the local economic stimulus plan designed

information required, to request the disbursement of financial aid. Unlike the process established to incentivize southern PyMES, [after the seismic activities in January], this time the applicant will be able to complete the process online,” Laboy said. THE WEEKLY JOURNAL asked how this money will be distributed, considering that postal office activity is expected to be limited, and the fact that the government is encouraging social distancing. “The idea is for that money to arrive via direct deposit, which I believe is the fastest and most convenient way for that business owner to receive that money as soon as possible to… partially mitigate economic loss,” the secretary explained. The applicant must confirm the banking information of the account where the stimulus will be deposited.

Prepare for the worst, but hope for the best

T Rosario Fajardo

Victims of Hurricane Maria to be Honored in New York City P13

rfajardo@wjournalpr.com

@RosarioWJournal

he World Bank has just reported that the coronavirus epidemic has caused a “global shock” and that “significant economic pain seems unavoidable in all countries.” In Puerto Rico, the economic cost has already been seen in several sectors, as the number of unemployment claims has jumped in the past few weeks. Since March 16, the local

Labor Department has received more than 98,000 unemployment claims—an estimated 22,250 claims were filed between March 21 and 24. The island is in the midst of a month-long lockdown and curfew. As a result, economic activity has ground to a virtual halt in Puerto Rico, as with many other jurisdictions. Passenger activity at the Luis Muñoz Marín (LMM) International Airport, the island’s main passenger terminal that is open during the coronavirus GO TO PAGE 4


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