The Nassau Guardian
PM seeks better access to concessional lending
Prime Minister Perry Christie yesterday appealed to “international financial institutions” to adjust their positions with regard to gross domestic product (GDP) per capita as a measure or means of determining the cost of financial assistance.
“We are all now called middle income countries,” said Christie in his address at the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka.
“This means that when we look to the markets and the international financial institutions, there is a measure which is used to determine what level of interest will be offered to us as the price of borrowing money.
“We are no longer able in many cases to get concessional lending because of the measure used to determine our level of wealth and ability to pay.”
Christie said that in this regard The Bahamas supports the efforts of the Commonwealth “to leverage the number of our voices to bring about change in this area”.
He also identified with the call from the young people of the Commonwealth for action to ensure that they are trained and can participate more fully in the world economy.
“The young people are the future of the world,” Christie said.
“In my own country, we came to office with a specific promise to support young people and to reduce youth unemployment.
“We pledged to double the investment in education during our term. We believe that specific programs for youth development are essential to the future success of our country. I would encourage all leaders to lend their support to youth development. There can be no better investment than to engage the youth of our respective nations.”
Unemployment among youths (people 15 to 24) has risen to 30.8 percent from 30.7 percent according to the Labour Force Survey, which was released last month. The survey was conducted in May with a reference period of April 29 to May 5, 2013.
Unemployment among youth in The Bahamas is "considerably higher than any other age group" according to a statement from the Department of Statistics.
Christie said, “As part of our commitment to young people and to the Commonwealth, The Bahamas is pleased to be able to host the next Commonwealth Education Ministers Conference in Nassau.
We are hoping that there is a full turnout and that this body commits itself to the policies which will enhance and train our people, especially our youth. I look forward to seeing you in Nassau.”
The prime minister also said that heads were meeting at a special time in the life of the Commonwealth.
“Our people often question, what are we doing here? We answer that we are here to reaffirm our values, our commitments to democracy, to diversity, to tolerance, to the rule of law. And if that is not enough, we are now here in Sri Lanka to call for growth with equity,” he said.
“I would wish to place The Bahamas firmly in support of this general call. I wish to place The Bahamas firmly in the column that calls for a more just order. I wish to place The Bahamas firmly in the column of standing up for the human rights and dignity of all peoples.
“I wish to support the rule of law. It is a long list of wishes. I think that we are all as countries and leaders capable of ensuring that all of the values of the Commonwealth are upheld.
“So that is the first thing for The Bahamas: We are here to uphold the values of the Commonwealth. Secondly, we are here to reinforce historic ties. Thirdly, we are here to get an opportunity to exchange views with people and nations from theaters far away from our own place in the North Atlantic and by that exchange of views to help our own growth and development.”
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