Washington, D.C., USA:

JAMAICA AND other countries in the Caribbean experiencing severe budgetary constraints can expect to receive a lifeline from the deliberations at the upcoming Summit of the Americas in Trinidad and Tobago, according to a top United States (US) official.

The Jamaican Government is currently facing a revenue shortfall of seven per cent, as well as declining inflows from tourism and bauxite/alumina exports.

Added to this is the increased burden on the budget arising from the cost of an economic stimulus package announced by Prime Minister Bruce Golding last December.

Won't allow to go under

News of the likely support package came last Thursday from US Assistant Secretary for Western Hemisphere Affairs, Thomas Shannon. He disclosed that the leading economies in the Americas would not allow vulnerable economies in Central America and the Caribbean to go under during the current global economic turbulence.

"We don't want an economic crisis to become a political and social crisis," Shannon told regional journalists during a briefing at the US State Department.

"We have to be able to show that democracies, through coordinated action, can protect the social gains they have made over the last decade, and create a basis upon which, when the recovery starts, they will be able to take advantage quickly," he added.

In anticipation of the meeting of 34 hemispheric leaders in Port-of-Spain from April 17-19, Shannon said the US will partner with Canada, Mexico, Brazil and Argentina to provide financial assistance. This will be done through multilateral and regional institutions "to ensure that public-sector projects are protected".

G-20 economic package