PRIME MINISTER RUBBISHES MALICIOUSLY MISLEADING REPORTS ON THE ST. KITTS AND NEVIS CITIZENSHIP BY INVESTMENT PROGRAMME AND ECONOMY

Basseterre, St Kitts, November 9, 2023 (Prime Minister’s Office): In an unequivocal and resounding denouncement, Prime Minister of St. Kitts and Nevis, the Honourable Dr. Terrance Drew categorically rejects and condemns the egregiously false and malicious content disseminated by the blogs, SKN Times and IMI Daily.

The posts, published on November 8, 2023, have alleged that the Citizenship by Investment Unit is ‘grappling with significant challenges, particularly in meeting payments to service providers’ and ‘the once-thriving [Citizenship by Investment (CBI) Programme] may face closure, plunging the nation into a severe financial crisis.’ The IMI Daily post quoted extensively from the SKN Times blog, but went further to attribute statements to the Prime Minister that he never made and penned other outright fabrications.

The Prime Minister has staunchly refuted the baseless allegations woven into these deceptive narratives, which not only attack the integrity of St. Kitts and Nevis’ esteemed Citizenship by Investment (CBI) Programme but also brazenly seek to undermine trust in our Federation’s economic stability. The Prime Minister views such spurious blogging with utmost disdain, vowing to confront this abhorrent breach of truth and public trust head-on.

“I want to categorically state that these claims are entirely untrue, reckless, and appear to be fuelled by ulterior motives. Our CBI Programme remains well-funded, well-managed, and has, in fact, seen improvements and increased revenues under the guidance of our new administration. We have worked tirelessly to ensure transparency, efficiency, and the highest standards of due diligence in the processing of CBI applications and administration of the CBI Unit, all to ensure its sustainability,” said Prime Minister Dr. Drew.

Contrary to the misinformation presented, Prime Minister Dr. Drew has confirmed that the St. Kitts and Nevis CBI Programme is not facing closure. The Head of the Citizenship by Investment Unit, Mr Michael Martin, has indicated that since the July 2023 amendments to the Citizenship by Substantial Investment Regulations serious developers have been clamouring to invest in St Kitts and Nevis by way of its CBI Programme.

“The claim that the CIU is grappling with significant challenges, financial or otherwise, is baseless and an attempt to undermine the reputation of our nation. Nothing could be further from the truth. Over the past few months, real estate developers, public benefactors and high value property owners have applied regularly to participate in the CBI Programme,” said Mr Martin.

Prime Minister Dr. Drew, who also serves as Minister of Finance, expressed his concern with the wholly false claim that the Government is in a ‘severe financial crisis’ and stated that “it is well known locally that the SKN Times blog is the unscrupulous mouthpiece of the opposition; but for an external blog to extract their politically motivated lies to fabricate statements I did not make, is even more abhorrent. The content of these reckless blogs is an affront to the principles of responsible journalism and the democratic fabric of our society.”

“The financial stability of our country is intact, and we continue to responsibly manage our resources to meet the needs of our citizens. Our country has hundreds of millions of Eastern Caribbean dollars in reserve and has increased our reserves since taking office in August 2022. We have been fiscally responsible by striking the right balance between stimulating our economy and implementing numerous social safety net policies to help our most vulnerable people recover from the impact of the Covid-19 Pandemic”, added Prime Minister Dr. Drew.

Prime Minister Dr. Drew has stated that the Government’s decision to raise minimum requirements was an intentional move to ensure that the CBI Programme maintains its reputation as a premium and secure investment option in the investor immigration industry.

“This has not only strengthened the integrity of our programme but has also attracted high-calibre investors who understand the long-term value of contributing to the development of our nation”, said Prime Minister Dr. Drew.

Prime Minister Dr. Terrance Drew assures the public that the Government of St. Kitts and Nevis stands steadfastly behind its CBI Programme. Contrary to the malicious insinuations propagated by unreliable sources, the Prime Minister emphatically affirms that our CBI programme is not only resilient but stronger and more secure than ever. The Government remains resolute in safeguarding the integrity of this vital initiative, ensuring its continued success for the prosperity of our nation.

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