THE ANCHOR HOLDS — BUT WHAT DOES IT HOLD?
Fifty Years of Eastern Caribbean Monetary Stability and the Unfinished Transition to a Life-Coherent Financial SystemBy Dr. Bichara Sahely
Length1h 41m
About this audiobook
For fifty years, the Eastern Caribbean currency arrangement has provided one of the region’s most durable shared institutions. Yet a stable monetary anchor does not by itself create productive diversification, broad ownership, ecological resilience, or secure livelihoods.
In this academic white paper, Dr. Bichara Sahely examines what the EC dollar’s stability has protected—and what remains unfinished. He develops a life-coherent framework for finance that links credit, savings, investment, development institutions, foreign-exchange discipline, ecological limits, and democratic accountability.
The central argument is clear: the anchor should be preserved, while the wider financial vessel is repaired and transformed. The next fifty years require institutions capable of converting monetary confidence into productive, resilient, just, and ecologically viable regional life.
Audiobook details
GenreBusiness and Economics, Politics and Government
Length1 hr 41 mins
Narrated byListen with 1,000+ voices
FormateBook with Audio
Publish dateJul 13, 2026
LanguageEnglish
Table of contents
1Chapter 1
20Chapter 14 — Who Is Secured by Stability?
2Opening Note to the Listener
21Part Four — TOWARD A LIFE-COHERENT FINANCIAL SYSTEM
3Introduction — Fifty Years at Anchor
22Chapter 15 — From Nominal Stability to Life-Capacity
4Part One — THE MAKING OF THE MONETARY ANCHOR
23Chapter 16 — The Life-Coherence Test for Credit and Investment
5Chapter 1 — Before the Anchor: Colonial Currency and Regional Monetary Inheritance
24Chapter 17 — Foreign-Exchange-Aware Development
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6Chapter 2 — From ECCA to the US-Dollar Peg
25Chapter 18 — The Civil Commons of Regional Production
7Chapter 3 — From Monetary Arrangement to Regional Institution
26Chapter 19 — Finance Within Ecological Limits
8Chapter 4 — Why the Anchor Endured
27Part Five — PRESERVING THE ANCHOR, TRANSFORMING THE VESSEL
9Part Two — WHAT THE ANCHOR ACTUALLY HOLDS
28Chapter 20 — Principles for Institutional Design
10Chapter 5 — Anatomy of the Eastern Caribbean Monetary System
29Chapter 21 — A Regional Architecture for Development Finance
11Chapter 6 — The Currency as a Regional Civil Commons
30Chapter 22 — Mobilizing Eastern Caribbean Savings
12Chapter 7 — The Necessary Disciplines of the Peg
31Chapter 23 — Purpose-Governed Credit
13Chapter 8 — What Monetary Stability Can — and Cannot — Do
32Chapter 24 — A Life-Coherent Investment Taxonomy
14Part Three — THE STABLE CURRENCY AND THE VULNERABLE ECONOMY
33Chapter 25 — Measuring What the Anchor Is For
15Chapter 9 — The Structural Economy Beneath the Peg
34Chapter 26 — Governance, Accountability and Protection Against Capture
16Chapter 10 — Debt, Fiscal Space and Recurrent Shock
35Chapter 27 — A Sequenced Transition
17Chapter 11 — Where Does the Credit Go?
36Conclusion — The Next Fifty Years
18Chapter 12 — Liquidity Without Transformation
37Listener’s Guide — Questions to Carry Forward
19Chapter 13 — Ownership, Returns and Financial Outflows
38About the Author
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