Last Updated on July 8, 2024, 7:29 AM AST by Anthony Morris
Basseterre, St. Kitts: Prime Minister Dr Terrance Drew, also responsible for the Citizenship by Investment (CBI) programme, announced that the government has decided to waive the CBI dividend to prioritise vital national projects.
Prime Minister Drew and his administration has made a strategic decision to forgo the CBI dividend in order to focus on more important projects such as investing in the Development Bank and hurricane preparedness.
He stated that the decision of prioritising national projects reflects the administration’s commitment to ensuring the physical and financial survival of the nation.
PM Dr Terrance Drew mentioned that the CBI dividend, which was committed to being paid twice yearly depending on a surplus from the CBI receipts after all financial obligations are met, has seen two dividends and one reset paid so far.
The PM also highlighted that this achievement makes the nation of St. Kitts and Nevis the only one to have implemented such a system.
“However, due to the recent readjustments of the CBI and the need to meet critical obligations, a surplus was not realised this period,” stated Dr Drew.
He also underscored on the se obligations, noting that it includes saving the Development Bank that will indirectly support social security, investing in a $50 million desalination plant that is scheduled to commence soon. It also includes preparing for an active hurricane season.
These commitments are very important in order to support the St. Kitts and Nevis’s physical and financial survival. Prime Minister Dr Terrance Drew also stated that his administration will continue to be transparent with the citizens of their nation and make the best decisions in the favour of the people.
He reassured the government’s dedication to wise financial management. He also reaffirmed that his decision will be prioritising initiatives that safeguard the well-being and future of nation.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
