CBI PROGRAMME IS NOT AN OPTION.
Prime Minister Dr. Ralph Gonsalves remains adamant that St. Vincent and the Grenadines will not embrace the Citizen by Investment Programme as a policy.
Speaking on the radio earlier today, Dr. Gonsalves said the programme has already proven itself to be problematic. Dr. Gonsalves said countries that are heavily reliant on CBI for recurrent expenditures put themselves in a vulnerable position and might require the help of the International Monetary Fund, which will impose stringent measures.
“There are some countries where 50 to 60 percent of their revenues go to the government. Recurrent revenues to keep the government going, they get from the Citizen by Investment programme. If between 50 and 60 percent of your revenues go to pay salaries, to buy medicines, education, health, etc., when the IMF comes to you, they are going to be very stringent; they are going to freeze salaries. If you own water and electricity, they are going to tell you to privatise them,” Dr. Gonsalves explained. “St. Vincent’s passport is more highly valued than practically every passport with Citizen by Investment Programmes. We can go to 152 countries in the world without a visa,” Dr. Gonsalves said.
