Antigua and Barbuda’s CBI Programme: A Lifeline for Economic Stability and Development

Prime Minister and Finance Minister Gaston Browne recently emphasized the crucial role of the Citizenship By Investment (CBI) programme in significantly supporting the nation’s economy and various essential services.

During a panel discussion, he highlighted how the CBI programme has been a ‘life-saver’ for the country, helping to address critical social, infrastructural, and developmental needs.

Reflecting on the dire economic circumstances of 2013, PM Browne recounted his advocacy for the establishment of the CBI programme, stating that it was essential to avoid a potential collapse of the economy.

“It was a real dire situation at the time, and it has been the careful, strategic use of CIP proceeds that helped us stabilize the country’s economy,” he said.

The funds generated from the CBI programme have been instrumental in enhancing various sectors, including healthcare, education, road infrastructure, and entrepreneurship.

Notably, PM Browne pointed out that CBI resources have significantly contributed to social initiatives such as the HAPI programme, which provides free homes to the poor and indigent.

Furthermore, the CBI funds have enabled extensive improvements in garbage collection and beautification efforts throughout the nation.

Recalling the fiscal constraints faced by the government in 2014, where salaries, wages, pensions, and debt repayments accounted for up to ninety percent of the budget, PM Browne underscored the importance of the CBI programme.

“We had less than ten percent of the budget available for discretionary spending. The CBI programmes provided the fiscal space needed to pursue other initiatives,” he stated.

In his conclusion, PM Browne reaffirmed the significance of the CBI programmes, urging that they be maintained, sustained, and developed further.

“Our international partners may overlook the value of these programmes, viewing them as insignificant or corrupt; for us, they are a lifeline for our people,” he declared.

Antigua and Barbuda remains committed to maximizing the potential of the CBI programme to benefit the people of the sub-region, ensuring continued growth and development.