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Jamaica's PM Announces Economic Stimulus Package


Jamaica's prime minister has announced plans for a huge economic stimulus package to stave off some of the side effects of the global financial slowdown.

In a televised broadcast Sunday night, Bruce Golding said the measures would mostly be aimed at small businesses, manufacturing and the ailing tourism industry.

The plan includes tax cuts and at least $6.4 million in loans for the tourism sector to help with cash flow. Another $4.5 million will go toward small businesses.

Mr. Golding also pledged to help workers who have lost their jobs and borrowers who are having difficulty making their mortgage payments.

Mr. Golding said the moves would help weather the crisis, but that further re-structuring would be needed to make Jamaica more business and investment friendly.

Some information for this report was provided by AP.

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