Antigua Economy Crashing While US Drags Out Online Casinos Talks
The worldwide recession has left Antigua and Barbuda in a state of economic disarray, to the point that the country is seeking loans to create jobs and tackle rampant unemployment. Yet the amount being sought to bail out the nation is in the same ball park as what is owed Antigua by the US for trade violations concerning online casinos, but the US governmentr continues to stall paying.
A government spokesman said Antigua had applied for a $30 million loan from the Caribbean Development Bank to aid the country, which is suffering both from lack of jobs and inflation. The spokesman acknowledged that Prime Minister Baldwin Spencer was considering the drastic step of suspending income taxes to help the poverty-stricken islanders. Income tax revenue in Antigua amounts to roughly $22 million annually.
Over a year ago, the World Trade Organization found the US in breach of free trade agreements for banning foreign online gambling sites. As Antigua is the base for many Internet casinos, the WTO judged that the US action should be punished with an annual payment of $21 million to the Caribbean country.
But US negotiators have ignored several deadlines set to resolve forms of payment. The office of US Trade Representative Susan Schwab has repeatedly waited until dates for settlement were upon them to even discuss the matter, and nonchalantly been dismissive of the WTO order.
Antiguan Finance Minister Dr. Errol Cort has preached patience, and continued to discuss possible ways for the US to settle its debt with Antigua. However, $21 millon is a drop of water in the bucket of the US budget; as much is spent on any of a multitude of nonsensical pork-barrel, bridge-to-nowhere type programs. That same amount, if paid promptly, may save lives and bring many out of poverty on Antigua.
