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Editor-in-Chief of SKNVibes apologizes to PM Harris for misconstruing his statements on the Citizenship by Investment (CBI) Program

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http://www.sknvibes.com/news/newsdetails.cfm/101081 – Please see the apology here.

https://sknis.kn/government-accepts-apology-from-sknvibes-and-its-retraction-of-article-on-cbi-programme/ – Please see a related story by the St. Kitts and Nevis Information Service (SKNIS) here.

http://www.sknvibes.com/news/newsdetails.cfm/101063 – Please see Remarks by Prime Minister Dr. the Honourable Timothy Harris at the National Conference of Service Providers and Developers for the Citizenship by Investment Program held on September 12th, 2016

 

 Prime Minister Dr. the Honourable Timothy Harris speaking at his most recent press conference on Wednesday, May 10th, 2017. 

 

The Prime Minister’s words “before I die although I don’t know the hour nor the time” were omitted.  Furthermore, an ellipsis (…) was not put into the quote to indicate the omission of the words.  Not doing so went against journalistic practice.  In omitting the Honourable Prime Minister’s words, the statement was misconstrued and taken out of context.    

At his May 10th press conference, the Honourable Prime Minister said that, notwithstanding the efforts to sustain the CBI program at its present platinum standard, the Government would continue efforts to diversify the economy and strengthen all the growth pillars to ensure that there is no overreliance on any single sector or entity as an engine of growth.  

The sentiments that Prime Minister Harris expresses in the attached audio clip echo what the Honourable Prime Minister said in his CIU Conference Speech (enclosed above) dated September 2016.  

“We have listened closely to those involved in the development, marketing and promotion of our CBI program.  We have listened to our developers; service providers, agents and we have listened also to our clients, the new group of citizens.  We hear quite clearly that we should re-examine or offer alternative investment options.  I can report that the Cabinet will consider the following options:

                  Infrastructure

                  Entrepreneurship

                  Growth and resilience fund

                  Alternative Energy

                  Heritage

                  Entertainment

 

     “We are open to other ideas as to how we can add value and complementarity to our CBI program…

“The IMF reports that since 2011 the contribution to GDP by the CBI program rose from just under 5% to a high of 14% and its contribution to Government’s revenue rose from about 16% to approximately 40% for the same period.

 

“This is a significant contribution and we must be mindful not to become over reliant on the CBI program.  We are aware of the sensitive security situation globally, the increasing competition regionally and beyond and the potential reputational risks.  That is why we have taken every precaution.  We are judicious in the countries that are allowed to participate in our program.  We have a solid, robust due diligence and framework in place to mitigate against illicit actors participating in our program, and we appeal to agents to ensure that only the best and most discerning individuals are welcomed to participate in our CBI program.  This is what defines the platinum standard.”

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