Leaders in G20 nations have an understanding that current methods of assessing who qualifies for international development assistance - particularly those methods based on GDP per capita - are flawed, but getting those nations to translate that understanding into policy change is the "hat trick" that The Bahamas and the wider CARICOM bloc must perform.
"The irritant in our relations [with Japan and the other G20 countries] is the question of international development assistance," Mitchell said. "As Japan currently structures its programs, The Bahamas and all the countries of the region are not able to take advantage of any concessionary funding because of the GDP per capita.
"We think that's a serious error, and I gather that there's some work on trying to (make progress in) that matter."
Mitchell said the question of calculation of GDP per capita - a persistent thorn in the side of many of the paper-rich small island developing states - could be expressed as the "Robinson Crusoe" problem. Two people might be stranded on an island, one worth $1 billion and the other worth $1; the GDP per capita on that island would therefore be $500,000,000.50 - an obvious distortion.
"To me, it's not about formulations. Its about changing the policy and the mindset on how you apply this. You have to look at other things like the Human Development Index (HDI), the income distribution issues, the prevalence of poverty and development."
The minister stressed that seeking policy change in this area is not a matter of "begging for anything".
"This is not talking about people handing you money," he said. "This is saying that if I am looking for capital, I should be able to borrow that capital at favorable rates, given the levels of my development, and the distribution of income and the HDI in my country, as opposed to looking simply at GDP per capita."
The Bahamas Ambassador to CARICOM Picewell Forbes and Ambassador-Designate to Japan Dr. Elwood Donaldson are leading the Bahamas mission to Tokyo for the fourth CARICOM-Japan Ministerial Meeting that will take place later this week. Mitchell said they are empowered to carry the message that the time for policy change has come.
Japan is the third largest economy in the world, Mitchell pointed out, adding it is important that The Bahamas ensures a good bilateral relationship with such an important nation.
"We are trying to ensure that we have good bilateral relationships with all the G20 countries," Mitchell said. "That's why we are there at the G20 conference with our CARICOM brethren, and also because CARICOM itself is an influential body."
Mitchell said the regional bloc has "considerable influence", given the numbers of people who live in the Caribbean.
Click here to read more at The Nassau Guardian
