Canada Supportive of Regional Economies - PM Golding

 APRIL 21, 2009

CANADA SUPPORTIVE OF REGIONAL ECONOMIES...PM Golding

Prime Minister Golding says that Canada's commitment to increase funding to the Inter-American Development Bank is a positive move for regional economies. He  was speaking  at a joint press conference with  the Prime Minister of Canada, Stephen Harper, following the launching of the Justice Undertakings for Social Transformation (JUST) Programme at Jamaica House this morning, (April 21).

"Canada has been very supportive. Not only has Canada participated in additional funding being made to the IMF (International Monetary Fund), but Canada has signaled an increase in funding to the IDB (Inter- American Development Bank) on which we depend so heavily for financing at this particular time."

Mr. Golding noted that Jamaica was very appreciative of Canada's role in highlighting the plight of countries, like Jamaica, which have limited access to funding because of their reclassification as highly indebted Middle Income Countries.

"This deprives us of access to certain types of funding. The fact is that we do have deep and endemic pockets of poverty that need to be addressed. Because we are so heavily indebted, the fiscal stage is not there. Countries like Jamaica need special consideration. We depend on Prime Minister Harper to take that to the councils where we do not sit," Prime Minister Golding said.

In response Prime Minister Harper said his country's specific direction to the IDB will translate into support for countries like Jamaica. He said  the intention of Canada is to ensure that countries do not get left out of finance arrangements as the world seeks to fight the current global recession.