IMF report criticizes St. Kitts and Nevis CBI program for lacking integrity and transparency
The International Monetary Fund (IMF) has recently criticized the Citizenship by Investment (CBI) program in St. Kitts and Nevis.
The IMF’s 2024 Country Report highlighted concerns about the lack of transparency and integrity within the CBI framework and urged the government to implement urgent reforms.
The report emphasized the need for increased transparency and accountability, recommending the release of an annual financial report on the CBI Unit’s operations and key data on applications.
However, despite these recommendations, the St. Kitts and Nevis government, under the leadership of Prime Minister Dr. Terrance Drew, has not yet issued such a report and has not disclosed critical data, such as the number of applications processed or passports issued under the CBI program.
The IMF’s findings have raised concerns about the transparency and integrity of the once highly regarded CBI program in St. Kitts and Nevis, which has been a vital part of the country’s economy.
This story was first published by Antigua News on : antigua.news/2024/09/30/imf-reporting-criticizes-st-kitts-and-nevis-cbi-program-for-lacking-integrity-and-transparency. © 2024 Antigua News. Republication without permission is not allowed.
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AAB September 30, 2024, 12:10 PM
Antigua Patriot September 30, 2024, 12:10 PM