Ricky Martin Family Members May Be Affected By Puerto Rico's Economic Crisis

Puerto Rico has more debt than it’s people can pay, Governor Alejandro García Padilla told the New York Times. The island’s drawn out financial crisis has racked up a territorial debt of $72 billion dollars (some have argued that the debt is actually twice that number). For its shrinking population of 3.5 million people, that’s a lot of debt. García had already publically acknowledged the overwhelming burden, and even explored bankruptcy as an option for washing the territory’s hands of the crushing repayments.

Puerto Rico’s economic crisis has already had terrible impacts on the island: spending cuts, exploding utility bills, unemployment, and massive emigration, to name a few. Commercial businesses are facing their darkest moments during this situation but are not giving up just yet, such is the case of “Aromas,” a San Juan coffee shop owned by Walter Martin, who happens to be Ricky Martin’s cousin.

Walter’s dad fulfilled his dream of opening the coffee shop five years ago, and he is not willing to let it go. With less clientele, he has reduced his personnel’s hours and tries to compensate for his financial loss by racing some of the prices on the menu. He also saves about 2,000 USD by turning the AC off, which we can only imagine can be brutal with PR’s heat during this time of the year.

Unfortunately, the crisis impact may go beyond all of the above. At this point, people are cutting all their expenses too short, and are even considering leaving the island to find a better living situation, which will only make things more difficult for those who decide to stay and fight for their country’s financial stability.