St Kitts and Nevis: PM Drew condemns misleading information about CBI Programme

Prime Minister, Dr Terrance Drew has condemned the false and misleading reports about St Kitts and Nevis Citizenship by Investment Programme and the economy being spread by the SKN Times blogs and IMI Daily.

On Wednesday, November 8th 2023, certain posts surfaced claiming that St Kitts and Nevis Citizenship by Investment programme is dealing with major difficulties in meeting payments to service providers.

The posts also revolved around the concept that the Citizen by Investment Programme may face closure, leading to a massive financial crisis.

The IMI Daily post took a lot of information from the SKN Times blog, and it further said and added statements that PM Drew never made and wrote completely inappropriate information.

PM Terrance Drew strongly refuted and condemned the misleading information being spread, adding that such false allegations directly attack the integrity of St Kitts and Nevis’s most reputed Citizenship by Investment Programme.

He added that these posts aim to erode the country’s economic stability. The Prime Minister strongly criticized such baseless blogs and promised to confront this breach of trust.

Notably, the PM claimed these blogs are untrue and driven by hidden motives. He added that the Citizenship by Investment Programme is well-funded and well-managed and has shown increased revenues and many developments since the new administration took over.

PM also emphasized their tireless efforts to ensure efficiency, transparency and the highest possible standards of due diligence in the possibility of CBI applications and the entire administration of the CBI unit, which aims to ensure its sustainability.

Despite the spread of malicious information, PM Drew has made it clear that the St Kitts and Nevis CBI Programme is not facing any closure.

Moreover, Michael Martin, the Head of the Citizenship by Investment Unit, has confirmed that since the amendments made in July 2023 to the Citizenship by Substantial Investment Regulations, many serious developers are clamouring to invest in the nation through its CBI Programme.

Notably, Martin stated that the claims these blogs are making regarding the challenges and financial crisis of CIU are utterly baseless and an attempt to harm the nation’s reputation. He remarked nothing could be added further from the truth.

Head Martin stated that in the last few months, public patrons, real estate developers, high-value proprietors, and landlords have regularly applied to participate in the CBI Programme.

PM Terrance Drew, also the Minister of Finance, claims that the SKN Times blog is basically the unethical spokesperson of the opposition party and is just writing and publishing baseless and inappropriate content about the Government’s financial condition.

The PM remarked how they are fabricating lies to fulfil their hidden agenda and stated he never made statements. He also added that these impetuous blogs are against the principles of true journalism and the democratic values that society holds.

While pointing out the country’s financial stability, the PM added that the nation is meeting with all the required resources to fulfil the needs of the natives of the country.

The country has hundreds of millions of Eastern Caribbean dollars in reserves, and in fact, they have been escalating their reserves since August 2022.

He also shed light on maintaining the balance between stimulating their economy and executing many social safety practices in order to help people recover from the adverse effects of Covid 19 pandemic.

The Government’s decision to increase the minimum requirements was a step to enhance the goodwill of the CBI Programme as well as to secure the investment option in the investor immigration industry.

This decision of the government not only reinforced their integrity but also captivated such stakeholders who understand the long-term value of contributing to the progress of the country.

Prime Minister of St Kitts and Nevis highlighted that they stand behind the CBI Programme. Despite the illogical and baseless posts by unreliable sources, the PM vowed that the CBI Programme is not only resilient but also tough and more secure than ever.

He claimed the Government is determined to maintain the integrity of their most crucial initiative to bolster the nation’s prosperity.