The Government’s move this week to raise well-needed public finances from the sale of Treasury Bills and Development Bonds, is both new to Anguilla and its people and a bold and imaginative effort in these times of financial and economic difficulty across the world.

We are certain that not many persons on the island know exactly what the new initiatives are all about in terms of function, administration and even perhaps the benefits to be derived by purchasers on the Eastern Caribbean Stock Exchange. Certainly, it is good fortune that the Treasury Bills and Development Bonds will be available under a well-established regional arrangement because there is no way that they could have been floated in Anguilla for local buyers, the majority of whom may not have the required purchasing power. Even in the region there may be some difficulty in attracting sales unless Anguilla’s offer turns out to be more attractive than some of the offerings by other island Governments involved in the sub-regional Currency Union and Stock Exchange.

Moreover, it is not known how investors in the area and beyond will respond to these and other regional offers given the almost crippling impact of the global financial and economic situation. We may however surprise ourselves to find that there may be some companies and others in the private sector in Anguilla which may be in a position to invest on the Stock Exchange and so patriotically assist the Anguilla Government in realising the 100 million dollars it is desirous of collecting.

There appears to be a need for a public relations programme so that Anguillians can fully understand what their Government is involving them in. To quote the Hon. Victor Banks, Minister of Finance, “The Government of Anguilla is employing bold and unusual strategies to address the unusual circumstances in the world economy.” So too must the Government be ready to tell its people how the system of Treasury Bills and Development Bonds will work for the good of the island and them as its citizens.

| Printer-friendly page | Send this article to a friend |

World News