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In a dramatic State of the Citizenship by Investment (CBI) address, Prime Minister Dr. Terrance Drew delivered shocking news to the nation, confirming the drastic collapse of the once-booming CBI Programme. PM Drew revealed that CBI application volumes and revenues have plummeted by over 60% compared to the years under the Team Unity Administration, creating a grim financial outlook for the country.

“Now, you may ask—what is the new CBI reality? Let us examine the numbers,” PM Drew stated.

He went on to provide a sobering comparison of the revenue generated by the CBI Programme over the last five years:

2019: EC$443 million

2020: EC$271 million

2021: EC$543 million

2022: EC$669 million

2023: EC$620 million

However, in 2024, up until September, the programme has only generated EC$218 million, a drastic drop compared to previous years. The figures reflect a staggering decline in revenue, pointing to the challenging road ahead for the government.

The Prime Minister’s address confirms suspicions that the CBI Programme, once a pillar of St. Kitts and Nevis’ economic strategy, has suffered a severe downturn. Many are now questioning the impact of recent policy changes, increased application fees, and controversies surrounding the programme’s management.

With the collapse of CBI revenues threatening the economic stability of the federation, PM Drew’s administration faces mounting pressure to quickly stabilize and revitalize the programme. The future of the CBI Programme—and its role in the national economy—now hangs in the balance as the government grapples with how to reverse its fortunes.

As PM Drew laid out the grim reality, the question remains: Can the CBI Programme be rescued, or is this the beginning of the end for one of St. Kitts and Nevis’ most significant revenue streams?