St Vincent and The Grenadines Prime Minister Dr Ralph Gonsalves has described as "welcoming", a decision by the new United States (US) president, Barack Obama, to lift an economic ban on countries that refused to promise not to extradite US nationals to the International Criminal Court.

The decision, announced last week, paves the way for countries like St Vincent and The Grenadines, Trinidad and Tobago and Barbados, to access the US Economic Support Fund.

The three Caribbean countries had subscribed to the International Court and did not sign an immunity agreement with the previous Bush administration promising not to extradite US nationals to the court.

"It's a vindication of our position," Gonsalves told journalists.