In all of its writings, The Anguillian had never headlined any editorial comment or other article with a question mark but, in this case, the matter at hand appears to make it a necessary choice of expression.

Many people in Anguilla appeared to have been taken aback by a news story from the Caribbean Media Corporation that, in a Declaration of St. Vincent and the Grenadines, last weekend, OECS leaders had agreed to the establishment of a Libyan commercial bank in the sub-region. (See story elsewhere in The Anguillian). The surprise stemmed from the fact that Libya and its leader, Col. Mu’ammar Qadhafi, have had a kind of sordid past with claims of terrorist connections and dictatorship but, from what seems to be clear, a lot of that cloud may have passed away with quiet now being the order of the day there.

The fact is that the world is quickly changing. Tyrannical and oppressive leadership, other questionable systems of governance and the quest for dominance, are fading away as the world moves more and more towards international cooperation and economic development. For example, the days of Josef Stalin and the more modern Nikita Khrushchev, who sought world dominance through communism, are all over with the fall not only of communism but the disintegration of the Union of Soviet Socialist Republics and the move to freedom.

It is certainly strange that Libya, which lies in Northern Africa bordering the Mediterranean Sea between Egypt and Tunisia, should have an interest in investing in the OECS sub-region. The vast desert country, that promotes desert tourism, is known to have attained the highest standard of living in all of Africa and perhaps may be in a position to spread its resources in this far-flung area of the world. Dominica has already secured funding from Libya for a number of projects. The African state is said to want to promote its relations with the Eastern Caribbean islands and to contribute to raising the level of economic development in the region. It has also been reported that the proposed Libyan commercial bank would have branches throughout the OECS. Libya is also known to be extending a helping hand to other parts of the world.

The Declaration, referred to above, was signed by the Prime Ministers of Antigua and Barbuda, Dominica, Grenada, St. Kitts-Nevis, St. Lucia, St. Vincent and the Grenadines and the Special Libyan Envoy. The islands, which signed the agreement, are all independent states and, interestingly, like Anguilla and Montserrat, are members of the Monetary Council and make up the eight territories covered by the St. Kitts-based Eastern Caribbean Central Bank. It is not known what is the ECCB’s response to this move, but certainly any bank of Libya would be required to operate above board given the strong financial legislation and due diligence practices in the region. Just how all of this will play out, with a supposedly reformed African ruler and nation reaching out with what some call “a hand of love” to people who may be regarded as kindred folk, will be left to time and caution to decide.

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