DIVERSIFICATION FUELING ECONOMIC GROWTH IN SAINT KITTS AND NEVIS

Basseterre, Saint Kitts, March 11, 2026 (SKNIS): The economy of Saint Kitts and Nevis continues to record positive growth as the government reduces its dependence on the vulnerable Citizenship by Investment (CBI) Programme.

In its recent report of the 2026 Article IV Mission, the International Monetary Fund (IMF) reported that there were declines in CBI revenue. However, it projected stronger economic growth ahead, as a result of efforts to diversify the economy. At the March 10 edition of the Roundtable, Prime Minister and Minister of Finance, the Honourable Dr. Terrance Drew, reiterated that CBI reform was a priority for his government upon assuming office in 2022. The goal was to strengthen the integrity of the programme and to enhance transparency, while maintaining top industry rankings and excellent international relations.

“… The economy had become too dependent on this vulnerable programme, a programme that we can see has affected many countries,” Dr. Drew said, citing the added scrutiny of some international partners, as well as recent geopolitical decisions. “And so, we were able to make the changes and strengthen the CBI Programme. But as I said, we will go through a period of transition from so heavily depending on the CBI to the point where we develop a diversified economy.”

Dr. Dew noted that economic growth instead is being driven by the expansion of the agriculture industry, renewable energy development, and tourism. A vibrant construction sector is also projected to drive growth of the twin-island Federation.

“… Because we have made changes, even though there are challenges, we are, of course, optimistic because the economy continues to grow, even with the decline of CBI, showing resilience,” the prime minister stated. “And that diversity is working and making us less vulnerable. And so, we will continue to build out the different aspects of our economy to the point where we can reach a sustainable island state, and we are on our way.”