IMF Acknowledges Enhanced Sustainability of St. Kitts-Nevis Citizenship by Investment Program

Achieving International Standards and Promoting Sustainable Economic Growth

Basseterre, St. Kitts — The International Monetary Fund (IMF) has recognized the enhanced sustainability of the St. Kitts-Nevis Citizenship by Investment (CBI) program, as stated in its 2025 Article IV Mission report. The report, released on February 26th, 2025, 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.

Comprehensive Reforms for a Sustainable Future

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
Collaboration with global partners to adhere to best practices

These initiatives aim to attract reputable investors who are committed to contributing positively to our nation’s development.

A Commitment to Diversification and Sustainable Economic Growth

In October 2024, 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, stating, “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).”

Conclusion

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 government is safeguarding the interests of Kittitians and Nevisians and ensuring that the benefits of the program continue to support national development initiatives.

FAQs

What is the St. Kitts-Nevis Citizenship by Investment program?

The CBI program is a government initiative designed to attract foreign investment to boost the Federation’s economic development.

What are the benefits of the CBI program?

The program has funded infrastructure projects, enhanced public services, and promoted overall economic growth.

What reforms has the government undertaken to ensure the program’s integrity and sustainability?

The government has implemented rigorous due diligence processes, enhanced transparency measures, and collaborated with global partners to adhere to best practices.

What is the government’s commitment to diversification and sustainable economic growth?

The government is pivoting from dependency on CBI to Sustainable Economic Expansion and Diversification (SEED) to drive growth in construction, tourism, agriculture, and sustainable projects.

What is the IMF’s assessment of the CBI program’s sustainability?

The IMF has acknowledged the enhanced sustainability of the CBI program, stating that recent reforms suggest CBI revenue will likely be structurally lower but more sustainable going forward.