Debt relief for Jamaica

Britain says it is about to provide Jamaica with debt relief, to the tune of some $7.4 million.

The British minister for International Development, Mike Foster, said the decision was made in the light of Jamaica’s high debt.

Officials say that the debt burden is constraining the island’s ability to achieve economic growth.

The money saved will be spent on education, security, and justice.

The government in Kingston is introducing a new budget featuring sharp cuts and a wage freeze in the public sector.

It’s hoping the new fiscal package will help stimulate an economy that is feeling the impact of the global economic downturn.

More aid for developing world

Aid agencies have welcomed plans by the European Commission to speed up aid to developing countries hit hard by the economic crisis.

But the agencies in endorsing some components of the plan, have said that it falls way short of the needs of the developing world.

The commission said it was bringing forward to 2009 nearly $5.82 billion of previously earmarked funds to help poor countries fight the recession.

A sizeable chunk is intended as budget support to African Caribbean and Pacific nations.

Fewer unemployed youths

The authorities in St Kitts say some 365 youths have been pulled off the unemployment line through a work experience and job placement project.

Officials of the country’s national skills training programme said more than 280 young people were being equipped “with the necessary professional and social skills to function efficiently in a work environment”.

Another 78 on work experience programmes have been attached to various private and public sector agencies.