Basseterre, St. Kitts, March 3, 2025 (PMO)— The International Monetary Fund (IMF), in its 2025 Article IV Mission report, has acknowledged the enhanced sustainability of the St. Kitts- Nevis Citizenship by Investment (CBI) program. In the report which was made available on February 26th, 2025, the IMF notes that “recent reforms to the [CBI] program, reinforced by international agreements, suggest that CBI revenue will likely be structurally lower but more sustainable going forward.”
Established in 1984, the CBI program of St. Kitts and Nevis is the oldest of its kind, designed to attract foreign investment to bolster the Federation’s economic development. Over the years, the program has been instrumental in funding infrastructure projects, enhancing public services, and promoting overall economic growth.
In recent times, the government, led by Prime Minister Hon. Dr. Terrance Drew, has undertaken comprehensive reforms to ensure the program’s integrity and alignment with international standards. These reforms include rigorous due diligence processes, enhanced transparency measures, and collaboration with global partners to adhere to best practices. Such initiatives are aimed at attracting reputable investors who are committed to contributing positively to our nation’s development.
In October 2024, In an address to the nation, the Prime Minister stated, “We initiated a full investigation into our CBI programme and received our first report in October 2022. Shortly thereafter, we commenced a comprehensive legislative review of our CBI regulations.” He further emphasized the importance of these reforms in preserving the nation’s reputation and ensuring the program’s sustainability.
The Prime Minister also highlighted the government’s commitment to diversifying the economy to reduce reliance on the CBI program. He noted, “Over the next two to three years, we anticipate an economic boom in construction, tourism, agriculture, and sustainable projects. This will be driven by a pivot from our dependency on CBI to Sustainable Economic Expansion and Diversification (SEED).”
The IMF’s recognition of the Drew-led government’s efforts bolsters the effectiveness of these reforms in creating a more stable and reliable revenue stream for the future. By making the CBI program more sustainable, the Drew-led government is safeguarding the interests of Kittitians and Nevisians and ensuring that the benefits of the program continue to support national development initiatives.
The government remains committed to continuous improvement of the CBI program, ensuring that it serves the best interests of the people of St. Kitts and Nevis while maintaining the highest esteemed position in the global community.
